Boingo Wireless, Inc. (NASDAQ:WIFI) had its price objective increased by analysts at Credit Suisse Group from $24.00 to $26.00 in a research report issued on Friday, November 3rd. The firm currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 20.87% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, October 5th. Craig Hallum boosted their price objective on Boingo Wireless from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. BidaskClub lowered Boingo Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $17.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $24.00 price target (up previously from $18.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.37.
Boingo Wireless (NASDAQ WIFI) opened at $21.51 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.09. Boingo Wireless has a 12-month low of $10.46 and a 12-month high of $25.99.
Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.04. Boingo Wireless had a negative return on equity of 23.62% and a negative net margin of 11.75%. The business had revenue of $53.66 million during the quarter, compared to analysts’ expectations of $50.22 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The business’s revenue was up 31.5% compared to the same quarter last year. equities analysts predict that Boingo Wireless will post -0.59 earnings per share for the current fiscal year.
In other Boingo Wireless news, CFO Peter Hovenier sold 18,552 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was 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 hyperlink. Also, VP Tom Tracey sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $20.45, for a total value of $204,500.00. Following the sale, the vice president now directly owns 34,868 shares of the company’s stock, valued at $713,050.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,285 shares of company stock worth $3,003,816. Company insiders own 7.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in Boingo Wireless by 3.4% in the 1st quarter. Wells Fargo & Company MN now owns 38,119 shares of the technology company’s stock valued at $495,000 after purchasing an additional 1,253 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in Boingo Wireless during the first quarter worth $159,000. Stifel Financial Corp increased its position in Boingo Wireless by 3.7% during the first quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock worth $205,000 after buying an additional 559 shares in the last quarter. American International Group Inc. increased its position in Boingo Wireless by 7.1% during the first quarter. American International Group Inc. now owns 21,925 shares of the technology company’s stock worth $285,000 after buying an additional 1,444 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Boingo Wireless by 4.8% during the first quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock worth $343,000 after buying an additional 1,200 shares in the last quarter. 86.58% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Boingo Wireless Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boingo Wireless Inc. and related companies with MarketBeat.com's FREE daily email newsletter.