Boingo Wireless, Inc. (NASDAQ:WIFI)‘s stock had its “buy” rating reaffirmed by research analysts at Oppenheimer Holdings, Inc. in a research report issued on Wednesday. They presently have a $30.00 price objective on the technology company’s stock. Oppenheimer Holdings, Inc.’s price target would indicate a potential upside of 27.23% from the stock’s previous close.
A number of other analysts have also recently weighed in on WIFI. BidaskClub cut shares of Boingo Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Benchmark Co. raised their price objective on shares of Boingo Wireless from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Craig Hallum raised their price objective on shares of Boingo Wireless from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 price objective (up previously from $17.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.04.
Shares of Boingo Wireless (NASDAQ:WIFI) opened at $23.58 on Wednesday. Boingo Wireless has a 1-year low of $10.46 and a 1-year high of $25.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.50 and a quick ratio of 0.50.
Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.04. The firm had revenue of $53.66 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) earnings per share. analysts expect that Boingo Wireless will post -0.59 earnings per share for the current fiscal year.
In related news, insider Derek Peterson sold 50,000 shares of Boingo Wireless stock in a transaction on Monday, September 11th. The shares were sold at an average price of $20.80, for a total value of $1,040,000.00. Following the transaction, the insider now owns 60,496 shares in the company, valued at approximately $1,258,316.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter Hovenier sold 18,552 shares of Boingo Wireless stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $21.31, for a total transaction of $395,343.12. The disclosure for this sale can be found here. Insiders have sold a total of 138,785 shares of company stock worth $2,858,766 in the last 90 days. 7.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of WIFI. UBS Asset Management Americas Inc. acquired a new stake in Boingo Wireless in the 1st quarter worth $159,000. American International Group Inc. grew its position in Boingo Wireless by 7.1% in the 1st quarter. American International Group Inc. now owns 21,925 shares of the technology company’s stock worth $285,000 after purchasing an additional 1,444 shares during the last quarter. Alliancebernstein L.P. grew its position in Boingo Wireless by 4.8% in the 1st quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock worth $343,000 after purchasing an additional 1,200 shares during the last quarter. Teachers Advisors LLC grew its position in Boingo Wireless by 2.8% in the 1st quarter. Teachers Advisors LLC now owns 96,931 shares of the technology company’s stock worth $1,259,000 after purchasing an additional 2,664 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in Boingo Wireless by 16.5% in the 1st quarter. TIAA CREF Investment Management LLC now owns 257,143 shares of the technology company’s stock worth $3,340,000 after purchasing an additional 36,344 shares during the last quarter. Institutional investors own 86.58% of the company’s stock.
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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