Boingo Wireless, Inc. (NASDAQ:WIFI) posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04, Briefing.com reports. The business had revenue of $53.66 million during the quarter, compared to the consensus estimate of $50.22 million. Boingo Wireless had a negative net margin of 11.75% and a negative return on equity of 23.62%. The firm’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) earnings per share. Boingo Wireless updated its FY17 guidance to -0.66-0.58 EPS.
Shares of Boingo Wireless (NASDAQ:WIFI) opened at $22.37 on Monday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.09. Boingo Wireless has a twelve month low of $10.46 and a twelve month high of $25.99.
In other Boingo Wireless news, CFO Peter Hovenier sold 18,552 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek Peterson sold 50,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $20.80, for a total transaction of $1,040,000.00. Following the transaction, the insider now owns 60,496 shares of the company’s stock, valued at $1,258,316.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,285 shares of company stock valued at $3,003,816. Company insiders own 7.70% of the company’s stock.
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WIFI has been the topic of several research analyst reports. Craig Hallum boosted their price target on shares of Boingo Wireless from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. increased their price target on shares of Boingo Wireless and gave the company an “outperform” rating in a report on Friday, November 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $20.00 price target (up from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Boingo Wireless currently has a consensus rating of “Hold” and an average target price of $21.37.
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.
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