Shares of Boingo Wireless Inc. (NASDAQ:WIFI) have been assigned an average rating of “Buy” from the ten analysts that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.23.
Several research firms have recently issued reports on WIFI. Jefferies Group raised their price target on shares of Boingo Wireless from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Oppenheimer Holdings Inc. assumed coverage on shares of Boingo Wireless in a research report on Tuesday, September 13th. They set an “outperform” rating and a $12.00 price objective for the company. Ladenburg Thalmann reiterated a “buy” rating and set a $12.25 price objective on shares of Boingo Wireless in a research report on Thursday, August 11th. BTIG Research assumed coverage on shares of Boingo Wireless in a research report on Monday, July 11th. They set a “sell” rating and a $6.85 price objective for the company. Finally, Lake Street Capital assumed coverage on shares of Boingo Wireless in a research report on Monday, June 20th. They set a “buy” rating and a $12.00 price objective for the company.
In other Boingo Wireless news, VP Tom Tracey sold 3,750 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $8.44, for a total value of $31,650.00. Following the transaction, the vice president now directly owns 46,299 shares of the company’s stock, valued at $390,763.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Dawn Callahan sold 12,500 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $10.03, for a total transaction of $125,375.00. Following the completion of the transaction, the chief marketing officer now directly owns 24,612 shares in the company, valued at $246,858.36. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WIFI. BlackRock Advisors LLC raised its position in Boingo Wireless by 2.3% in the second quarter. BlackRock Advisors LLC now owns 18,778 shares of the company’s stock worth $167,000 after buying an additional 417 shares during the period. Balter Liquid Alternatives LLC acquired a new position in Boingo Wireless during the second quarter worth $197,000. Spark Investment Management LLC acquired a new position in Boingo Wireless during the first quarter worth $248,000. Prudential Financial Inc. acquired a new position in Boingo Wireless during the first quarter worth $340,000. Finally, Swiss National Bank raised its position in Boingo Wireless by 14.8% in the second quarter. Swiss National Bank now owns 66,750 shares of the company’s stock worth $595,000 after buying an additional 8,600 shares during the period. 86.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boingo Wireless (NASDAQ:WIFI) opened at 9.92 on Wednesday. The company has a 50-day moving average of $9.34 and a 200 day moving average of $8.46. The company’s market capitalization is $378.12 million. Boingo Wireless has a 52-week low of $5.40 and a 52-week high of $10.38.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. The firm earned $39.10 million during the quarter, compared to the consensus estimate of $38.94 million. Boingo Wireless had a negative net margin of 17.20% and a negative return on equity of 23.75%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.16) earnings per share. Analysts predict that Boingo Wireless will post ($0.72) earnings per share for the current year.
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 for carriers. 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 segment.
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