Boingo Wireless (WIFI) Upgraded to Hold at BidaskClub

Boingo Wireless (NASDAQ:WIFI) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also recently weighed in on WIFI. Roth Capital assumed coverage on shares of Boingo Wireless in a research report on Wednesday, January 17th. They set a “buy” rating and a $29.00 price target on the stock. Craig Hallum boosted their price target 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. Credit Suisse Group boosted their price target 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. Oppenheimer restated a “buy” rating and issued a $30.00 price objective on shares of Boingo Wireless in a report on Wednesday, November 15th. Finally, Zacks Investment Research lowered shares of Boingo Wireless from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $24.50.

Shares of Boingo Wireless (NASDAQ:WIFI) opened at $23.31 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $950.94, a price-to-earnings ratio of -40.19 and a beta of 0.58. Boingo Wireless has a 12 month low of $10.46 and a 12 month high of $25.99.

In related news, insider Dawn Callahan sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $25.10, for a total value of $627,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Peter Hovenier sold 10,000 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares in the company, valued at $237,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 175,770 shares of company stock worth $4,071,931. 7.70% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Great West Life Assurance Co. Can purchased a new stake in Boingo Wireless during the third quarter worth about $114,000. UBS Asset Management Americas Inc. purchased a new stake in Boingo Wireless during the fourth quarter worth about $203,000. Legal & General Group Plc increased its stake in Boingo Wireless by 3.9% during the second quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock worth $137,000 after purchasing an additional 341 shares during the period. Suntrust Banks Inc. purchased a new stake in Boingo Wireless during the fourth quarter worth about $230,000. Finally, Royal Bank of Canada increased its stake in Boingo Wireless by 1.3% during the second quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock worth $156,000 after purchasing an additional 135 shares during the period. Institutional investors own 90.42% of the company’s stock.

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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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