Boingo Wireless, Inc. (NASDAQ:WIFI) had its price target hoisted by investment analysts at Credit Suisse Group from $24.00 to $26.00 in a report released on Friday. The firm currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 3.59% from the company’s previous close.

A number of other brokerages have also issued reports on WIFI. Craig Hallum upped their target price on Boingo Wireless from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, October 5th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $24.00 target price (up from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $20.00 price target (up from $17.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Finally, BidaskClub downgraded Boingo Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Boingo Wireless presently has a consensus rating of “Buy” and a consensus target price of $21.37.

Shares of Boingo Wireless (WIFI) traded up $1.93 on Friday, hitting $25.10. The company’s 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 announced its earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.04. Boingo Wireless had a negative return on equity of 23.73% and a negative net margin of 11.75%. The company had revenue of $53.66 million for the quarter, compared to analyst estimates of $50.22 million. During the same period in the prior year, the company posted ($0.15) EPS. Boingo Wireless’s quarterly revenue was up 31.5% on a year-over-year basis. equities research analysts anticipate that Boingo Wireless will post -0.66 earnings per share for the current year.

WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/11/04/credit-suisse-group-raises-boingo-wireless-inc-wifi-price-target-to-26-00.html.

In other news, CEO David Hagan sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $18.39, for a total value of $1,103,400.00. Following the completion of the sale, the chief executive officer now directly owns 621,853 shares in the company, valued at approximately $11,435,876.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek Peterson sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $20.80, for a total value of $1,040,000.00. Following the completion of the sale, the insider now owns 60,496 shares of the company’s stock, valued at $1,258,316.80. 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 over the last quarter. Company insiders own 7.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Gotham Asset Management LLC bought a new position in Boingo Wireless during the 2nd quarter worth $237,000. Hood River Capital Management LLC grew its stake in Boingo Wireless by 58.1% during the 2nd quarter. Hood River Capital Management LLC now owns 1,043,219 shares of the technology company’s stock worth $15,607,000 after buying an additional 383,174 shares during the last quarter. Lazard Asset Management LLC bought a new position in Boingo Wireless during the 2nd quarter worth $2,271,000. EAM Investors LLC grew its stake in Boingo Wireless by 254.2% during the 2nd quarter. EAM Investors LLC now owns 247,281 shares of the technology company’s stock worth $3,699,000 after buying an additional 177,475 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC grew its stake in Boingo Wireless by 410.2% during the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 391,745 shares of the technology company’s stock worth $5,861,000 after buying an additional 314,958 shares during the last quarter. Hedge funds and other institutional investors own 88.63% of the company’s stock.

About Boingo Wireless

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.

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

Receive News & Ratings for Boingo Wireless Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boingo Wireless Inc. and related companies with MarketBeat.com's FREE daily email newsletter.