Boingo Wireless Inc. (NASDAQ:WIFI) has been assigned an average recommendation of “Buy” from the ten brokerages that are currently covering the firm. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.23.
A number of research firms recently issued reports on WIFI. Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, October 6th. BTIG Research began coverage on shares of Boingo Wireless in a research note on Monday, July 11th. They issued a “sell” rating and a $6.85 price target for the company. Lake Street Capital began coverage on shares of Boingo Wireless in a research note on Monday, June 20th. They issued a “buy” rating and a $12.00 price target for the company. Ladenburg Thalmann reissued a “buy” rating and issued a $12.25 price target on shares of Boingo Wireless in a research note on Thursday, August 11th. Finally, Oppenheimer Holdings Inc. began coverage on shares of Boingo Wireless in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $12.00 price target for the company.
In other news, VP Tom Tracey sold 3,750 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $8.44, for a total transaction of $31,650.00. Following the sale, the vice president now owns 46,299 shares in the company, valued at $390,763.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Dawn Callahan sold 12,500 shares of the stock in a transaction that occurred 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 sale, the chief marketing officer now owns 24,612 shares in the company, valued at approximately $246,858.36. The disclosure for this sale can be found here. Company insiders own 7.50% of the company’s stock.
Several large investors have recently bought and sold shares of WIFI. Emerald Acquisition Ltd. purchased a new stake in Boingo Wireless during the second quarter worth approximately $6,678,000. Royce & Associates LP boosted its stake in Boingo Wireless by 96.8% in the first quarter. Royce & Associates LP now owns 444,894 shares of the company’s stock worth $3,435,000 after buying an additional 218,804 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in Boingo Wireless by 6.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,519,715 shares of the company’s stock worth $22,476,000 after buying an additional 148,394 shares during the last quarter. Sarbit Advisory Services Inc. purchased a new stake in Boingo Wireless during the second quarter worth approximately $1,131,000. Finally, Northpointe Capital LLC boosted its stake in Boingo Wireless by 43.4% in the second quarter. Northpointe Capital LLC now owns 331,920 shares of the company’s stock worth $2,961,000 after buying an additional 100,492 shares during the last quarter. Hedge funds and other institutional investors own 86.56% of the company’s stock.
Boingo Wireless (NASDAQ:WIFI) opened at 9.92 on Wednesday. The stock has a 50 day moving average price of $9.34 and a 200-day moving average price of $8.46. The stock’s market cap 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 issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.19) EPS for the quarter, beating the 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 quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) earnings per share. On average, equities analysts anticipate that Boingo Wireless will post ($0.72) EPS for the current fiscal 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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