Boingo Wireless Inc (NASDAQ:WIFI) has earned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $35.63.
Several analysts recently issued reports on the company. BidaskClub upgraded Boingo Wireless from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. ValuEngine downgraded Boingo Wireless from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $35.00 price target (down from $38.00) on shares of Boingo Wireless in a report on Tuesday, November 13th. Zacks Investment Research upgraded Boingo Wireless from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Tuesday, November 6th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $34.00 price target (up from $31.00) on shares of Boingo Wireless in a report on Friday, November 2nd.
In other news, CEO David Hagan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $25.53, for a total transaction of $382,950.00. Following the completion of the sale, the chief executive officer now directly owns 521,314 shares in the company, valued at $13,309,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. First Hawaiian Bank bought a new position in shares of Boingo Wireless during the fourth quarter worth about $173,000. Vanguard Group Inc lifted its holdings in Boingo Wireless by 7.0% in the third quarter. Vanguard Group Inc now owns 3,304,762 shares of the technology company’s stock worth $115,336,000 after acquiring an additional 217,283 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Boingo Wireless by 7.0% in the third quarter. Vanguard Group Inc. now owns 3,304,762 shares of the technology company’s stock worth $115,336,000 after acquiring an additional 217,283 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Boingo Wireless by 31.2% in the third quarter. AQR Capital Management LLC now owns 128,663 shares of the technology company’s stock worth $4,490,000 after acquiring an additional 30,576 shares during the last quarter. Finally, MetLife Investment Advisors LLC lifted its holdings in Boingo Wireless by 58.2% in the third quarter. MetLife Investment Advisors LLC now owns 27,512 shares of the technology company’s stock worth $960,000 after acquiring an additional 10,122 shares during the last quarter. 92.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of WIFI stock traded down $0.05 on Friday, reaching $22.26. 6,111 shares of the stock were exchanged, compared to its average volume of 453,579. The company has a market cap of $963.72 million, a price-to-earnings ratio of -45.80 and a beta of 1.02. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Boingo Wireless has a 1-year low of $18.50 and a 1-year high of $35.98.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Thursday, November 1st. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Boingo Wireless had a negative return on equity of 2.53% and a negative net margin of 1.10%. The business had revenue of $65.25 million during the quarter, compared to the consensus estimate of $63.32 million. During the same period in the prior year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, analysts expect that Boingo Wireless will post -0.14 earnings per share for the current fiscal year.
About Boingo Wireless
Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.
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