Boingo Wireless, Inc. (NASDAQ:WIFI) had its target price hoisted by analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Friday. The brokerage presently has an “outperform” rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Credit Suisse Group raised their price objective on shares of Boingo Wireless from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday. Craig Hallum raised their price objective on shares of Boingo Wireless from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Group LLC raised their price objective on shares of Boingo Wireless from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark Co. raised their price objective on shares of Boingo Wireless from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, BidaskClub raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Two equities research 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. The stock presently has an average rating of “Buy” and an average price target of $21.37.

Boingo Wireless (NASDAQ:WIFI) traded up $1.93 during midday trading on Friday, hitting $25.10. 2,122,338 shares of the company were exchanged, 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 issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. Boingo Wireless had a negative net margin of 11.75% and a negative return on equity of 23.73%. The company had revenue of $53.66 million for the quarter, compared to the consensus estimate of $50.22 million. During the same period last year, the firm posted ($0.15) EPS. Boingo Wireless’s revenue for the quarter was up 31.5% on a year-over-year basis. research analysts predict that Boingo Wireless will post -0.66 earnings per share for the current fiscal year.

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In other news, Director Michael Finley sold 7,500 shares of Boingo Wireless stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $19.34, for a total value of $145,050.00. Following the sale, the director now owns 52,998 shares of the company’s stock, valued at $1,024,981.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Tom Tracey sold 25,000 shares of Boingo Wireless stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $18.45, for a total transaction of $461,250.00. Following the completion of the sale, the vice president now directly owns 38,276 shares in the company, valued at approximately $706,192.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,778 shares of company stock worth $5,291,249. Insiders own 7.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of Boingo Wireless by 1.3% in the second quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock valued at $156,000 after purchasing an additional 135 shares during the period. Legal & General Group Plc lifted its stake in shares of Boingo Wireless by 3.9% in the second quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after purchasing an additional 341 shares during the period. Stifel Financial Corp lifted its stake in shares of Boingo Wireless by 3.7% in the first quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock valued at $205,000 after purchasing an additional 559 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Boingo Wireless by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 30,153 shares of the technology company’s stock valued at $452,000 after purchasing an additional 1,178 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Boingo Wireless by 4.8% in the first quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock valued at $343,000 after purchasing an additional 1,200 shares during the period. Hedge funds and other 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.

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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