Boingo Wireless, Inc. (WIFI) Updates Q3 Earnings Guidance
Boingo Wireless, Inc. (NASDAQ:WIFI) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of ($0.18)-($0.10) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.16). The company issued revenue guidance of $48-52 million, compared to the consensus revenue estimate of $47.29 million.Boingo Wireless also updated its FY17 guidance to ($0.71)-($0.61) EPS.
A number of analysts recently issued reports on the company. Craig Hallum boosted their price objective on Boingo Wireless from $17.00 to $20.00 and gave the company a buy rating in a research note on Friday. Benchmark Co. boosted their price objective on Boingo Wireless from $18.00 to $24.00 and gave the company a buy rating in a research note on Friday. ValuEngine upgraded Boingo Wireless from a sell rating to a hold rating in a research note on Friday, June 2nd. BidaskClub lowered Boingo Wireless from a hold rating to a sell rating in a research note on Wednesday, July 19th. Finally, Ladenburg Thalmann Financial Services boosted their price objective on Boingo Wireless from $16.85 to $18.50 and gave the company a buy rating in a research note on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $16.26.
Boingo Wireless, Inc. (WIFI) traded up 27.22% during trading on Friday, reaching $19.21. The company had a trading volume of 2,270,131 shares. Boingo Wireless, Inc. has a one year low of $8.10 and a one year high of $19.42. The firm’s market capitalization is $748.88 million. The firm’s 50-day moving average price is $15.31 and its 200 day moving average price is $13.86.
Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.03. The business had revenue of $49 million for the quarter, compared to the consensus estimate of $46.23 million. Boingo Wireless had a negative net margin of 13.85% and a negative return on equity of 25.52%. Boingo Wireless’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.19) earnings per share. Equities analysts forecast that Boingo Wireless, Inc. will post ($0.65) earnings per share for the current fiscal year.
In other Boingo Wireless news, VP Tom Tracey sold 25,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $15.75, for a total transaction of $393,750.00. Following the sale, the vice president now directly owns 67,316 shares of the company’s stock, valued at $1,060,227. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Derek Peterson sold 14,970 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $16.54, for a total value of $247,603.80. Following the sale, the insider now directly owns 45,555 shares in the company, valued at $753,479.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,132,777 shares of company stock worth $17,590,592. Insiders own 7.70% 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 Distributed Antenna System (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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