Boingo Wireless Inc (WIFI) Given Average Recommendation of “Buy” by Brokerages

Boingo Wireless Inc (NASDAQ:WIFI) has been given a consensus rating of “Buy” by the eleven brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $24.56.

A number of research analysts have commented on the stock. Roth Capital assumed coverage on shares of Boingo Wireless in a research report on Wednesday. They issued a “buy” rating and a $29.00 target price on the stock. BidaskClub cut shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Zacks Investment Research raised shares of 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. Craig Hallum upped their target price on shares of Boingo Wireless from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Credit Suisse Group upped their target price on shares of Boingo Wireless from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd.

Shares of Boingo Wireless (NASDAQ WIFI) traded up $0.23 on Friday, hitting $22.88. 329,343 shares of the company were exchanged, compared to its average volume of 334,900. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.50 and a quick ratio of 0.50. Boingo Wireless has a 12-month low of $10.46 and a 12-month high of $25.99. The stock has a market capitalization of $924.01, a price-to-earnings ratio of -39.45 and a beta of 0.53.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data 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 net margin of 11.75% and a negative return on equity of 23.62%. The firm had revenue of $53.66 million during the quarter, compared to analyst estimates of $50.22 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Boingo Wireless’s quarterly revenue was up 31.5% on a year-over-year basis. equities analysts anticipate that Boingo Wireless will post -0.57 EPS for the current year.

In other news, CEO David Hagan sold 59,500 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $22.10, for a total transaction of $1,314,950.00. Following the sale, the chief executive officer now owns 606,186 shares of the company’s stock, valued at $13,396,710.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dawn Callahan sold 25,000 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $25.10, for a total transaction of $627,500.00. The disclosure for this sale can be found here. Insiders have sold 175,770 shares of company stock worth $4,071,931 in the last three months. Corporate insiders own 7.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of WIFI. Castleark Management LLC acquired a new stake in shares of Boingo Wireless during the second quarter worth about $8,995,000. Renaissance Technologies LLC lifted its position in shares of Boingo Wireless by 20.1% during the second quarter. Renaissance Technologies LLC now owns 2,330,200 shares of the technology company’s stock worth $34,860,000 after purchasing an additional 389,195 shares in the last quarter. Hood River Capital Management LLC lifted its position in shares of Boingo Wireless by 58.1% during the second quarter. Hood River Capital Management LLC now owns 1,043,219 shares of the technology company’s stock worth $15,607,000 after purchasing an additional 383,174 shares in the last quarter. Granite Investment Partners LLC lifted its position in shares of Boingo Wireless by 150.2% during the third quarter. Granite Investment Partners LLC now owns 558,106 shares of the technology company’s stock worth $11,927,000 after purchasing an additional 335,019 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Boingo Wireless by 19.0% during the second quarter. Vanguard Group Inc. now owns 2,042,944 shares of the technology company’s stock worth $30,563,000 after purchasing an additional 326,791 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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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)

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