Boingo Wireless (WIFI) Earns Buy Rating from Analysts at Northland Securities

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Northland Securities started coverage on shares of Boingo Wireless (NASDAQ:WIFI) in a report issued on Monday, TipRanks reports. The firm issued a buy rating and a $30.00 price objective on the technology company’s stock.

Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Boingo Wireless from a buy rating to a hold rating in a research note on Tuesday. William Blair reaffirmed a buy rating on shares of Boingo Wireless in a research note on Thursday, March 28th. Roth Capital reaffirmed a buy rating on shares of Boingo Wireless in a research note on Friday, March 1st. Credit Suisse Group reduced their price objective on shares of Boingo Wireless from $35.00 to $29.00 and set an outperform rating for the company in a research note on Thursday, February 28th. Finally, Craig Hallum reaffirmed a buy rating and issued a $28.00 price objective (down previously from $36.00) on shares of Boingo Wireless in a research note on Thursday, February 28th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $33.56.

Shares of Boingo Wireless stock traded down $0.02 on Monday, hitting $24.14. 17,032 shares of the company traded hands, compared to its average volume of 564,558. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.20. Boingo Wireless has a 12-month low of $18.50 and a 12-month high of $35.98. The stock has a market cap of $1.06 billion, a P/E ratio of -804.67 and a beta of 1.09.

Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Wednesday, February 27th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.10. Boingo Wireless had a negative net margin of 0.49% and a negative return on equity of 1.08%. The business had revenue of $67.81 million during the quarter, compared to analyst estimates of $67.18 million. On average, equities research analysts expect that Boingo Wireless will post -0.31 earnings per share for the current fiscal year.

In other Boingo Wireless news, CFO Peter Hovenier sold 5,000 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $23.95, for a total transaction of $119,750.00. Following the completion of the transaction, the chief financial officer now owns 476,723 shares of the company’s stock, valued at approximately $11,417,515.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Hagan sold 29,364 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $25.36, for a total transaction of $744,671.04. Following the transaction, the director now directly owns 1,103,375 shares of the company’s stock, valued at approximately $27,981,590. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,364 shares of company stock valued at $3,881,071. Company insiders own 3.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Handelsinvest Investeringsforvaltning boosted its stake in shares of Boingo Wireless by 88.0% in the 1st quarter. Handelsinvest Investeringsforvaltning now owns 128,151 shares of the technology company’s stock valued at $2,983,000 after purchasing an additional 60,000 shares during the last quarter. KAMES CAPITAL plc grew its stake in shares of Boingo Wireless by 61.8% during the 1st quarter. KAMES CAPITAL plc now owns 47,722 shares of the technology company’s stock valued at $1,111,000 after purchasing an additional 18,221 shares during the period. American Century Companies Inc. bought a new stake in shares of Boingo Wireless during the 4th quarter valued at about $1,524,000. Geode Capital Management LLC grew its stake in shares of Boingo Wireless by 9.2% during the 4th quarter. Geode Capital Management LLC now owns 489,743 shares of the technology company’s stock valued at $10,074,000 after purchasing an additional 41,401 shares during the period. Finally, FMR LLC grew its stake in shares of Boingo Wireless by 33.6% during the 4th quarter. FMR LLC now owns 3,953,534 shares of the technology company’s stock valued at $81,325,000 after purchasing an additional 993,899 shares during the period. 93.84% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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