Boingo Wireless, Inc. (NASDAQ:WIFI) had its price objective lifted by Oppenheimer Holdings, Inc. in a research note issued to investors on Friday. They currently have an outperform rating on the technology company’s stock.
A number of other brokerages have also weighed in on WIFI. Jefferies Group LLC boosted their price objective on shares of Boingo Wireless from $20.00 to $27.00 and gave the stock a buy rating in a report on Friday. Credit Suisse Group boosted their price objective on shares of Boingo Wireless from $24.00 to $26.00 and gave the stock an outperform rating in a report on Friday. Craig Hallum boosted their price objective on shares of Boingo Wireless from $24.00 to $28.00 and gave the stock a buy rating in a report on Friday. Zacks Investment Research upgraded shares of Boingo Wireless from a hold rating to a buy rating and set a $24.00 price objective for the company in a report on Thursday, October 5th. Finally, BidaskClub lowered shares of Boingo Wireless from a hold rating to a sell rating in a report on Wednesday, July 19th. Two 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 stock has an average rating of Buy and a consensus target price of $21.37.
Shares of Boingo Wireless (NASDAQ WIFI) traded up $1.93 during trading on Friday, reaching $25.10. 2,122,338 shares of the company’s stock traded hands, compared to its average volume of 377,585. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.47 and a current ratio of 0.47.
Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.04. The firm had revenue of $53.66 million during the quarter, compared to analyst estimates of $50.22 million. Boingo Wireless had a negative net margin of 11.75% and a negative return on equity of 23.73%. The business’s quarterly revenue was up 31.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) EPS. equities research analysts anticipate that Boingo Wireless will post -0.66 EPS for the current year.
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In other Boingo Wireless news, CEO David Hagan sold 60,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $18.39, for a total transaction of $1,103,400.00. Following the transaction, the chief executive officer now directly owns 621,853 shares of the company’s stock, valued at approximately $11,435,876.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Peter Hovenier sold 18,552 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $21.31, for a total transaction of $395,343.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,778 shares of company stock worth $5,291,249. Insiders own 7.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in WIFI. Wells Fargo & Company MN boosted its holdings in shares of Boingo Wireless by 3.4% during the 1st quarter. Wells Fargo & Company MN now owns 38,119 shares of the technology company’s stock valued at $495,000 after buying an additional 1,253 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Boingo Wireless during the 1st quarter valued at $159,000. Stifel Financial Corp boosted its holdings in shares of Boingo Wireless by 3.7% during the 1st quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock valued at $205,000 after buying an additional 559 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Boingo Wireless by 7.1% during the 1st quarter. American International Group Inc. now owns 21,925 shares of the technology company’s stock valued at $285,000 after buying an additional 1,444 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Boingo Wireless by 4.8% during the 1st quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock valued at $343,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 88.63% of the company’s stock.
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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