Boingo Wireless (WIFI) Getting Somewhat Positive Press Coverage, Analysis Finds
News coverage about Boingo Wireless (NASDAQ:WIFI) has trended somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Boingo Wireless earned a news impact score of 0.19 on Accern’s scale. Accern also assigned media coverage about the technology company an impact score of 44.6980538600598 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Several research firms have issued reports on WIFI. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday. Craig Hallum lifted their price target on Boingo Wireless from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $24.00 price target (up previously from $18.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and issued a $20.00 price target (up previously from $17.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. Finally, BidaskClub downgraded Boingo Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $19.15.
Shares of Boingo Wireless (WIFI) opened at 21.42 on Friday. The firm’s market cap is $859.13 million. The company has a 50 day moving average price of $20.77 and a 200-day moving average price of $16.61. Boingo Wireless has a 52-week low of $9.39 and a 52-week high of $22.14.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). The company had revenue of $49.00 million for the quarter, compared to the consensus estimate of $46.23 million. Boingo Wireless had a negative return on equity of 25.82% and a negative net margin of 13.85%. Boingo Wireless’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS. On average, analysts expect that Boingo Wireless will post ($0.64) earnings per share for the current fiscal year.
In related news, VP Tom Tracey sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $18.45, for a total value of $461,250.00. Following the transaction, the vice president now owns 38,276 shares of the company’s stock, valued at approximately $706,192.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Peter Hovenier sold 35,233 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $20.27, for a total transaction of $714,172.91. Following the completion of the transaction, the chief financial officer now directly owns 8,551 shares in the company, valued at approximately $173,328.77. The disclosure for this sale can be found here. Insiders have sold a total of 770,778 shares of company stock worth $12,944,249 in the last three months. Insiders own 7.70% of the company’s stock.
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.
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