Shares of Boingo Wireless (NASDAQ:WIFI) have been given an average rating of “Buy” by the thirteen research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $28.19.
WIFI has been the topic of a number of research reports. William Blair reiterated an “outperform” rating on shares of Boingo Wireless in a research note on Monday, March 12th. Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Thursday, March 8th. Northland Securities reiterated a “buy” rating on shares of Boingo Wireless in a research note on Thursday, March 1st. BidaskClub lowered shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Friday, March 30th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $32.00 price objective (up previously from $27.00) on shares of Boingo Wireless in a research note on Wednesday, February 28th.
Boingo Wireless stock traded up $0.46 during mid-day trading on Thursday, reaching $25.04. 328,573 shares of the company traded hands, compared to its average volume of 405,972. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.07. Boingo Wireless has a fifty-two week low of $13.00 and a fifty-two week high of $28.34. The firm has a market capitalization of $1,029.72, a price-to-earnings ratio of -50.84 and a beta of 0.62.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Tuesday, February 27th. The technology company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.09. The firm had revenue of $57.35 million for the quarter, compared to analyst estimates of $54.48 million. Boingo Wireless had a negative net margin of 9.40% and a negative return on equity of 20.09%. sell-side analysts predict that Boingo Wireless will post -0.41 EPS for the current fiscal year.
In related news, VP Tom Tracey sold 25,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $25.87, for a total transaction of $646,750.00. Following the sale, the vice president now owns 49,818 shares in the company, valued at $1,288,791.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David Hagan sold 59,500 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $22.10, for a total transaction of $1,314,950.00. Following the sale, the chief executive officer now owns 606,186 shares in the company, valued at approximately $13,396,710.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,352 shares of company stock worth $9,439,720. 7.70% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in WIFI. Bank of New York Mellon Corp grew its position in Boingo Wireless by 99.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,113,217 shares of the technology company’s stock valued at $25,047,000 after buying an additional 555,471 shares during the period. Renaissance Technologies LLC lifted its holdings in Boingo Wireless by 15.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the technology company’s stock valued at $67,523,000 after purchasing an additional 395,200 shares in the last quarter. Monarch Partners Asset Management LLC lifted its holdings in Boingo Wireless by 1,246.2% during the fourth quarter. Monarch Partners Asset Management LLC now owns 310,708 shares of the technology company’s stock valued at $6,991,000 after purchasing an additional 287,628 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Boingo Wireless by 70.3% during the fourth quarter. Allianz Asset Management GmbH now owns 680,641 shares of the technology company’s stock valued at $15,314,000 after purchasing an additional 280,930 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in Boingo Wireless by 128.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 497,946 shares of the technology company’s stock valued at $11,204,000 after purchasing an additional 280,089 shares in the last quarter. Institutional investors own 91.12% of the company’s stock.
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Boingo Wireless Company Profile
Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.
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