Boingo Wireless Inc (NASDAQ:WIFI) has earned an average rating of “Buy” from the eleven research firms that are covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating and two have given a strong 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 $33.71.

A number of brokerages have recently weighed in on WIFI. Jefferies Financial Group lifted their target price on shares of Boingo Wireless from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, August 20th. BidaskClub raised shares of Boingo Wireless from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Roth Capital set a $32.00 target price on shares of Boingo Wireless and gave the company a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. Finally, Craig Hallum lifted their target price on shares of Boingo Wireless from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd.

Shares of WIFI traded up $0.90 during trading hours on Monday, reaching $32.93. 366,423 shares of the company traded hands, compared to its average volume of 301,540. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -67.20 and a beta of 0.58. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.07. Boingo Wireless has a 12 month low of $20.02 and a 12 month high of $34.01.

Boingo Wireless (NASDAQ:WIFI) last announced its earnings results on Wednesday, August 1st. The technology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.19. The firm had revenue of $59.60 million for the quarter, compared to analyst estimates of $56.52 million. Boingo Wireless had a negative net margin of 2.44% and a negative return on equity of 5.51%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) EPS. research analysts forecast that Boingo Wireless will post -0.17 EPS for the current fiscal year.

In related news, CMO Dawn Callahan sold 25,000 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $23.42, for a total transaction of $585,500.00. Following the sale, the chief marketing officer now owns 50,654 shares of the company’s stock, valued at $1,186,316.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Hagan sold 59,500 shares of the business’s stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $23.79, for a total transaction of $1,415,505.00. Following the sale, the chief executive officer now directly owns 684,870 shares in the company, valued at approximately $16,293,057.30. The disclosure for this sale can be found here. Insiders have sold 470,467 shares of company stock worth $12,468,419 in the last three months. 3.80% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC bought a new stake in Boingo Wireless during the second quarter worth about $352,000. State Board of Administration of Florida Retirement System purchased a new position in Boingo Wireless in the first quarter worth about $213,000. GSA Capital Partners LLP purchased a new position in Boingo Wireless in the second quarter worth about $228,000. Bank of Montreal Can raised its holdings in Boingo Wireless by 557.7% in the second quarter. Bank of Montreal Can now owns 10,529 shares of the technology company’s stock worth $238,000 after buying an additional 8,928 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in Boingo Wireless in the first quarter worth about $290,000. 95.70% of the stock is currently owned by institutional investors and hedge funds.

Boingo Wireless Company Profile

Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.

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Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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