Analysts Set Boingo Wireless, Inc. (WIFI) PT at $18.54
Boingo Wireless, Inc. (NASDAQ:WIFI) has earned an average rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.54.
A number of research firms have commented on WIFI. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $24.00 target price (up previously from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and set a $20.00 target price (up previously from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. ValuEngine raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Benchmark Co. lifted 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, Craig Hallum lifted their price objective on shares of Boingo Wireless from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 4th.
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In related news, VP Tom Tracey sold 10,000 shares of Boingo Wireless stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $20.45, for a total value of $204,500.00. Following the completion of the sale, the vice president now directly owns 34,868 shares in the company, valued at approximately $713,050.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Hagan sold 25,000 shares of Boingo Wireless stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $14.55, for a total transaction of $363,750.00. Following the completion of the sale, the chief executive officer now owns 621,853 shares of the company’s stock, valued at $9,047,961.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 895,778 shares of company stock worth $14,767,749. Insiders own 7.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in Boingo Wireless by 3.9% in the 2nd 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 in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in Boingo Wireless in the 1st quarter worth approximately $134,000. Royal Bank of Canada boosted its stake in Boingo Wireless by 1.3% in the 2nd 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 in the last quarter. Cambria Investment Management L.P. acquired a new stake in Boingo Wireless in the 1st quarter worth approximately $136,000. Finally, American Century Companies Inc. acquired a new stake in Boingo Wireless in the 2nd quarter worth approximately $164,000. Institutional investors own 89.08% of the company’s stock.
Boingo Wireless (WIFI) traded down 0.97% during midday trading on Friday, reaching $20.49. 144,417 shares of the company traded hands. The company has a 50 day moving average price of $19.63 and a 200-day moving average price of $15.85. The stock’s market capitalization is $821.83 million. Boingo Wireless has a one year low of $9.27 and a one year high of $22.00.
Boingo Wireless (NASDAQ:WIFI) last posted its earnings results on Thursday, August 3rd. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $49.00 million for the quarter, compared to analysts’ expectations of $46.23 million. Boingo Wireless had a negative net margin of 13.85% and a negative return on equity of 25.82%. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. Analysts forecast that Boingo Wireless will post ($0.64) EPS for the current fiscal year.
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.
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