Boingo Wireless, Inc. (WIFI) Price Target Raised to $28.00 at Craig Hallum
Boingo Wireless, Inc. (NASDAQ:WIFI) had its price objective boosted by Craig Hallum from $24.00 to $28.00 in a research note issued to investors on Friday. Craig Hallum currently has a buy rating on the technology company’s stock.
Other equities analysts also recently issued research reports about the company. Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $24.00 price objective (up previously from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Benchmark Co. lifted their price objective on Boingo Wireless from $18.00 to $24.00 and gave the company a buy rating in a research report on Friday, August 4th. Jefferies Group LLC reiterated a buy rating and issued a $20.00 price objective (up previously from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. BidaskClub upgraded Boingo Wireless from a sell rating to a hold rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research downgraded Boingo Wireless from a buy rating to a hold rating in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $21.37.
Boingo Wireless (WIFI) traded up $2.99 during trading on Friday, hitting $25.10. The company had a trading volume of 2,122,338 shares, compared to its average volume of 377,585. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.11.
Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. Boingo Wireless had a negative return on equity of 23.73% and a negative net margin of 11.75%. The firm had revenue of $53.66 million during the quarter, compared to the consensus estimate of $50.22 million. During the same quarter in the previous year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. analysts forecast that Boingo Wireless will post -0.66 earnings per share for the current fiscal year.
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In other news, 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 value of $395,343.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Tom Tracey sold 25,000 shares of Boingo Wireless stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $18.45, for a total value of $461,250.00. Following the completion of the sale, the vice president now directly owns 38,276 shares of the company’s stock, valued at $706,192.20. The disclosure for this sale can be found here. Insiders sold a total of 270,778 shares of company stock valued at $5,291,249 over the last three months. Insiders own 7.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in shares of Boingo Wireless by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after buying an additional 341 shares during the period. Royal Bank of Canada increased its stake in shares of Boingo Wireless by 1.3% in the 2nd quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock valued at $156,000 after buying an additional 135 shares during the period. American Century Companies Inc. acquired a new stake in shares of Boingo Wireless during the second quarter worth $164,000. Aperio Group LLC acquired a new stake in shares of Boingo Wireless during the second quarter worth $164,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Boingo Wireless during the first quarter worth $159,000. 88.63% of the stock is owned by institutional investors.
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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