Boingo Wireless (NASDAQ:WIFI) Price Target Lowered to $23.00 at Oppenheimer

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Boingo Wireless (NASDAQ:WIFI) had its target price trimmed by Oppenheimer to $23.00 in a report released on Friday morning, The Fly reports. They currently have an outperform rating on the technology company’s stock.

Several other equities analysts also recently commented on WIFI. Northland Securities reiterated a buy rating on shares of Boingo Wireless in a report on Friday. ValuEngine upgraded shares of Boingo Wireless from a sell rating to a hold rating in a report on Friday. Zacks Investment Research downgraded shares of Boingo Wireless from a buy rating to a hold rating in a report on Thursday, May 16th. BidaskClub downgraded shares of Boingo Wireless from a sell rating to a strong sell rating in a report on Saturday, June 29th. Finally, Craig Hallum decreased their price objective on shares of Boingo Wireless from $29.00 to $22.00 and set a buy rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. Boingo Wireless presently has a consensus rating of Buy and an average target price of $29.78.

NASDAQ:WIFI opened at $13.09 on Friday. Boingo Wireless has a one year low of $12.60 and a one year high of $35.98. The firm has a market capitalization of $575.76 million, a P/E ratio of -436.33 and a beta of 1.01. The company has a fifty day moving average of $17.43. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.95 and a current ratio of 0.95.

Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). Boingo Wireless had a negative net margin of 1.88% and a negative return on equity of 4.49%. The company had revenue of $66.47 million during the quarter, compared to analyst estimates of $65.74 million. On average, equities research analysts expect that Boingo Wireless will post -0.4 earnings per share for the current year.

In other news, CFO Peter Hovenier sold 5,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $17.80, for a total value of $89,000.00. Following the completion of the sale, the chief financial officer now owns 380,723 shares of the company’s stock, valued at $6,776,869.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Derek Peterson sold 11,628 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $21.77, for a total transaction of $253,141.56. Following the completion of the sale, the insider now directly owns 57,447 shares of the company’s stock, valued at approximately $1,250,621.19. The disclosure for this sale can be found here. In the last three months, insiders sold 150,854 shares of company stock valued at $2,760,389. 4.50% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in WIFI. Macquarie Group Ltd. raised its stake in Boingo Wireless by 75.6% during the fourth quarter. Macquarie Group Ltd. now owns 2,067 shares of the technology company’s stock worth $42,000 after acquiring an additional 890 shares in the last quarter. Lindbrook Capital LLC acquired a new position in Boingo Wireless during the first quarter worth about $96,000. Legal & General Group Plc raised its stake in Boingo Wireless by 13.7% during the fourth quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock worth $150,000 after acquiring an additional 882 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Boingo Wireless during the first quarter worth about $179,000. Finally, BNP Paribas Arbitrage SA raised its stake in Boingo Wireless by 25.9% during the second quarter. BNP Paribas Arbitrage SA now owns 10,756 shares of the technology company’s stock worth $193,000 after acquiring an additional 2,216 shares in the last quarter.

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 worldwide. The company offers distributed antenna systems and small cell networks at managed and operated locations; high-speed Wi-Fi services for residential consumers on military bases and at multifamily properties; and wholesale Wi-Fi services to network operators, device manufacturers, technology companies, enterprise software and services companies, venue operators, and financial services companies, as well as retail Internet access services.

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The Fly

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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