Boingo Wireless (WIFI) Downgraded by BidaskClub

BidaskClub lowered shares of Boingo Wireless (NASDAQ:WIFI) from a hold rating to a sell rating in a research report report published on Tuesday morning.

A number of other research analysts have also weighed in on the company. Oppenheimer upped their price objective on Boingo Wireless and gave the stock an outperform rating in a report on Friday, November 3rd. Jefferies Group upped their price objective on Boingo Wireless from $20.00 to $27.00 and gave the stock a buy rating in a report on Friday, November 3rd. Zacks Investment Research lowered Boingo Wireless from a buy rating to a hold rating in a report on Wednesday, November 8th. Credit Suisse Group upped their price objective on Boingo Wireless from $24.00 to $26.00 and gave the stock an outperform rating in a report on Friday, November 3rd. Finally, Craig Hallum upped their price objective on Boingo Wireless from $24.00 to $28.00 and gave the stock a buy rating in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Boingo Wireless currently has a consensus rating of Hold and a consensus target price of $22.04.

Boingo Wireless (WIFI) opened at $23.09 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50. Boingo Wireless has a twelve month low of $10.46 and a twelve month high of $25.99.

Boingo Wireless (NASDAQ:WIFI) last released its earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.04. The business had revenue of $53.66 million for the quarter, compared to analyst estimates of $50.22 million. Boingo Wireless had a negative return on equity of 23.62% and a negative net margin of 11.75%. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) earnings per share. analysts predict that Boingo Wireless will post -0.58 EPS for the current year.

In other Boingo Wireless news, CFO Peter Hovenier sold 10,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the sale, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $237,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dawn Callahan sold 11,437 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $22.85, for a total value of $261,335.45. Following the completion of the sale, the insider now directly owns 11,370 shares in the company, valued at approximately $259,804.50. The disclosure for this sale can be found here. Insiders have sold 96,437 shares of company stock worth $2,317,085 in the last ninety days. 7.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of WIFI. Great West Life Assurance Co. Can acquired a new stake in Boingo Wireless in the third quarter valued at $114,000. Legal & General Group Plc grew its holdings in Boingo Wireless by 3.9% in the second 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 last quarter. Royal Bank of Canada grew its holdings in Boingo Wireless by 1.3% in the second 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 last quarter. Aperio Group LLC acquired a new stake in Boingo Wireless in the second quarter valued at $164,000. Finally, American Century Companies Inc. acquired a new stake in Boingo Wireless in the second quarter valued at $164,000. 89.96% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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