Boingo Wireless, Inc. (WIFI) Price Target Increased to $27.00 by Analysts at Jefferies Group LLC
Boingo Wireless, Inc. (NASDAQ:WIFI) had its price objective upped by stock analysts at Jefferies Group LLC from $20.00 to $27.00 in a report released on Friday. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 7.57% from the stock’s current price. Jefferies Group also issued estimates for Boingo Wireless’ Q1 2018 earnings at ($0.19) EPS, Q2 2018 earnings at ($0.12) EPS, Q3 2018 earnings at ($0.08) EPS, Q4 2018 earnings at ($0.11) EPS and FY2019 earnings at ($0.26) EPS.
WIFI has been the subject of a number of other research reports. Benchmark Co. lifted their price objective on Boingo Wireless from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Credit Suisse Group lifted their price objective on Boingo Wireless from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday. Craig Hallum lifted their price objective on Boingo Wireless from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $24.00 price objective (up previously from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Boingo Wireless has a consensus rating of “Buy” and an average price target of $21.37.
Shares of Boingo Wireless (NASDAQ WIFI) traded up $1.93 during mid-day trading on Friday, hitting $25.10. The stock had a trading volume of 2,122,338 shares, compared to its average volume of 377,585. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.47 and a quick ratio of 0.47.
Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $53.66 million during the quarter, compared to analysts’ expectations of $50.22 million. Boingo Wireless had a negative return on equity of 23.73% and a negative net margin of 11.75%. The firm’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) EPS. sell-side analysts forecast that Boingo Wireless will post -0.66 EPS for the current year.
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In other Boingo Wireless news, VP Tom Tracey sold 25,000 shares of Boingo Wireless stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $18.45, for a total value of $461,250.00. Following the completion of the sale, the vice president now owns 38,276 shares in the company, valued at approximately $706,192.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Finley sold 14,493 shares of Boingo Wireless stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $18.08, for a total value of $262,033.44. Following the completion of the sale, the director now owns 60,498 shares of the company’s stock, valued at approximately $1,093,803.84. The disclosure for this sale can be found here. Insiders sold a total of 270,778 shares of company stock valued at $5,291,249 in the last 90 days. 7.70% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in Boingo Wireless by 20.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,330,200 shares of the technology company’s stock valued at $34,860,000 after buying an additional 389,195 shares during the period. Vanguard Group Inc. lifted its stake in shares of Boingo Wireless by 19.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,042,944 shares of the technology company’s stock valued at $30,563,000 after purchasing an additional 326,791 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Boingo Wireless by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,952,425 shares of the technology company’s stock valued at $29,209,000 after purchasing an additional 145,796 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Boingo Wireless by 64.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,239,122 shares of the technology company’s stock valued at $18,538,000 after purchasing an additional 484,061 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its stake in shares of Boingo Wireless by 58.1% in the 2nd quarter. Hood River Capital Management LLC now owns 1,043,219 shares of the technology company’s stock valued at $15,607,000 after purchasing an additional 383,174 shares in the last quarter. Institutional investors own 88.63% of the company’s stock.
Boingo Wireless Company Profile
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices.
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