Boingo Wireless Inc (NASDAQ:WIFI) has received a consensus rating of “Buy” from the eight ratings firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $13.01.
Several equities analysts have recently issued reports on WIFI shares. BTIG Research reaffirmed a “sell” rating and set a $6.85 price target on shares of Boingo Wireless in a research note on Thursday, January 5th. Jefferies Group LLC lifted their target price on shares of Boingo Wireless from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 8th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $15.00 target price on shares of Boingo Wireless in a research note on Friday, March 10th. Zacks Investment Research raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research note on Saturday, January 7th. Finally, Lake Street Capital reissued a “buy” rating and set a $14.00 target price (up previously from $12.00) on shares of Boingo Wireless in a research note on Wednesday, March 8th.
Boingo Wireless (NASDAQ:WIFI) traded down 0.07% on Tuesday, hitting $14.03. 213,367 shares of the stock were exchanged. Boingo Wireless has a 1-year low of $6.56 and a 1-year high of $14.29. The company has a 50-day moving average price of $12.69 and a 200 day moving average price of $11.73. The company’s market capitalization is $542.22 million.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings results on Tuesday, March 7th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.11). The firm earned $44.97 million during the quarter, compared to the consensus estimate of $45.83 million. Boingo Wireless had a negative net margin of 17.38% and a negative return on equity of 25.35%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) earnings per share. Analysts anticipate that Boingo Wireless will post ($0.67) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Reliance Trust Co. of Delaware boosted its position in shares of Boingo Wireless by 9.6% in the first quarter. Reliance Trust Co. of Delaware now owns 11,339 shares of the technology company’s stock worth $147,000 after buying an additional 990 shares in the last quarter. Croft Leominster Inc. acquired a new position in shares of Boingo Wireless during the third quarter worth about $287,000. Schroder Investment Management Group boosted its position in Boingo Wireless by 29.3% in the third quarter. Schroder Investment Management Group now owns 28,835 shares of the technology company’s stock valued at $296,000 after buying an additional 6,526 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Boingo Wireless by 14.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,544 shares of the technology company’s stock valued at $311,000 after buying an additional 3,295 shares during the period. Finally, Tudor Investment Corp Et Al boosted its position in Boingo Wireless by 17.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 31,669 shares of the technology company’s stock valued at $386,000 after buying an additional 4,722 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.
Boingo Wireless Company Profile
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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