Shares of Boingo Wireless Inc (NASDAQ:WIFI) have earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.26.
A number of equities research analysts recently weighed in on WIFI shares. Jefferies Group LLC boosted their price target on shares of Boingo Wireless from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, March 8th. Credit Suisse Group AG reissued a “buy” rating and issued a $16.00 price target on shares of Boingo Wireless in a research report on Tuesday, April 18th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $15.00 price target on shares of Boingo Wireless in a research report on Friday, March 10th. Benchmark Co. started coverage on shares of Boingo Wireless in a research report on Tuesday, April 25th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Lake Street Capital reissued a “buy” rating and issued a $14.00 price target (up from $12.00) on shares of Boingo Wireless in a research report on Wednesday, March 8th.
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Shares of Boingo Wireless (NASDAQ:WIFI) traded up 1.16% during trading on Monday, reaching $15.69. The company had a trading volume of 302,881 shares. Boingo Wireless has a 1-year low of $6.89 and a 1-year high of $16.58. The firm has a 50-day moving average of $14.31 and a 200 day moving average of $12.51. The firm’s market capitalization is $611.66 million.
Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. Boingo Wireless had a negative net margin of 17.38% and a negative return on equity of 25.35%. The firm had revenue of $44.30 million during the quarter, compared to analysts’ expectations of $41.25 million. During the same period in the previous year, the company earned ($0.27) earnings per share. Boingo Wireless’s quarterly revenue was up 28.4% compared to the same quarter last year. Analysts expect that Boingo Wireless will post ($0.65) earnings per share for the current year.
In other news, VP Tom Tracey sold 25,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $15.75, for a total value of $393,750.00. Following the completion of the sale, the vice president now directly owns 67,316 shares of the company’s stock, valued at $1,060,227. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dawn Callahan sold 100,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $15.90, for a total transaction of $1,590,000.00. Following the completion of the sale, the insider now directly owns 58,425 shares of the company’s stock, valued at $928,957.50. The disclosure for this sale can be found here. Insiders sold 271,505 shares of company stock valued at $4,328,305 over the last ninety days. Corporate insiders own 7.50% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Stifel Financial Corp boosted its stake in shares of Boingo Wireless by 3.7% in 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 during the last quarter. Teachers Advisors LLC boosted its position in Boingo Wireless by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 94,267 shares of the technology company’s stock valued at $1,149,000 after buying an additional 673 shares in the last quarter. Reliance Trust Co. of Delaware boosted its position in 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 valued at $147,000 after buying an additional 990 shares in the last quarter. Blair William & Co. IL boosted its position in Boingo Wireless by 1.1% in the first quarter. Blair William & Co. IL now owns 92,375 shares of the technology company’s stock valued at $1,008,000 after buying an additional 1,000 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Boingo Wireless by 4.8% in the first quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock valued at $343,000 after buying an additional 1,200 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.
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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