Jefferies Group LLC Increases Boingo Wireless, Inc. (WIFI) Price Target to $27.00

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.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.com-unik.info/2017/11/05/jefferies-group-llc-increases-boingo-wireless-inc-wifi-price-target-to-27-00.html.

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.

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

What are top analysts saying about Boingo Wireless Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Boingo Wireless Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit