Boingo Wireless, Inc. (NASDAQ:WIFI) had its price objective raised by research analysts at Jefferies Group LLC from $20.00 to $27.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 7.57% from the stock’s previous close. Jefferies Group also issued estimates for Boingo Wireless’ Q1 2018 earnings at ($0.19) EPS, Q2 2018 earnings at ($0.12) EPS, Q3 2018 earnings at ($0.08) EPS, Q4 2018 earnings at ($0.11) EPS and FY2019 earnings at ($0.26) EPS.
A number of other research firms have also issued reports on WIFI. BidaskClub upgraded shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Craig Hallum raised their target price on shares of Boingo Wireless from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research lowered shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $24.00 target price (up from $18.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. Finally, Credit Suisse Group raised their target price on shares of Boingo Wireless from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Boingo Wireless has an average rating of “Buy” and an average target price of $21.37.
Shares of Boingo Wireless (NASDAQ WIFI) traded up $2.99 on Friday, hitting $25.10. 2,122,338 shares of the 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 posted its earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Boingo Wireless had a negative net margin of 11.75% and a negative return on equity of 23.73%. The business had revenue of $53.66 million for the quarter, compared to analyst estimates of $50.22 million. During the same period last year, the business posted ($0.15) EPS. Boingo Wireless’s revenue was up 31.5% compared to the same quarter last year. research analysts forecast that Boingo Wireless will post -0.66 earnings per share for the current year.
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In other Boingo Wireless news, VP Tom Tracey sold 25,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $18.45, for a total value of $461,250.00. Following the completion of the sale, the vice president now directly 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 the SEC website. Also, CEO David Hagan sold 60,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 621,853 shares of the company’s stock, valued at $11,435,876.67. The disclosure for this sale can be found here. Over the last three months, insiders sold 270,778 shares of company stock valued at $5,291,249. Insiders own 7.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings 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 valued at $156,000 after purchasing an additional 135 shares during the period. Legal & General Group Plc boosted its holdings 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 valued at $137,000 after purchasing an additional 341 shares during the period. Stifel Financial Corp boosted its holdings in Boingo Wireless by 3.7% in the 1st quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock valued at $205,000 after purchasing an additional 559 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Boingo Wireless by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,153 shares of the technology company’s stock valued at $452,000 after purchasing an additional 1,178 shares during the period. Finally, Alliancebernstein L.P. lifted 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 worth $343,000 after acquiring an additional 1,200 shares during the period. 88.63% of the stock is owned by hedge funds and other institutional investors.
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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