Boingo Wireless (NASDAQ: WIFI) and iPass (NASDAQ:IPAS) are both small-cap computer and technology companies, but which is the superior business? We will contrast the two businesses based on the strength of their institutional ownership, risk, profitabiliy, analyst recommendations, valuation, earnings and dividends.

Analyst Recommendations

This is a summary of current ratings and target prices for Boingo Wireless and iPass, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Boingo Wireless 1 0 7 0 2.75
iPass 0 1 4 0 2.80

Boingo Wireless currently has a consensus target price of $15.04, suggesting a potential upside of 1.92%. iPass has a consensus target price of $2.69, suggesting a potential upside of 108.53%. Given iPass’ stronger consensus rating and higher possible upside, analysts plainly believe iPass is more favorable than Boingo Wireless.

Earnings & Valuation

This table compares Boingo Wireless and iPass’ revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio EBITDA Earnings Per Share Price/Earnings Ratio
Boingo Wireless $169.18 million 3.40 $34.37 million ($0.63) -23.43
iPass $62.78 million 1.35 -$6.53 million ($0.13) -9.92

Boingo Wireless has higher revenue and earnings than iPass. Boingo Wireless is trading at a lower price-to-earnings ratio than iPass, indicating that it is currently the more affordable of the two stocks.

Risk and Volatility

Boingo Wireless has a beta of 0.6, meaning that its share price is 40% less volatile than the S&P 500. Comparatively, iPass has a beta of -0.37, meaning that its share price is 137% less volatile than the S&P 500.


This table compares Boingo Wireless and iPass’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Boingo Wireless -14.32% -24.60% -6.53%
iPass -13.31% -46.92% -26.14%

Insider & Institutional Ownership

88.9% of Boingo Wireless shares are held by institutional investors. Comparatively, 23.9% of iPass shares are held by institutional investors. 7.7% of Boingo Wireless shares are held by insiders. Comparatively, 5.7% of iPass shares are held by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock is poised for long-term growth.


Boingo Wireless beats iPass on 9 of the 13 factors compared between the two stocks.

About Boingo Wireless

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. It acquires long-term wireless rights at venues, such as airports, transportation hubs, stadiums, arenas, universities, convention centers, and office campuses; builds wireless networks, such as DAS, Wi-Fi and small cells at those venues, and monetizes the wireless networks through a range of products and services. As of December 31, 2016, the Company operated 36 DAS networks containing approximately 19,200 DAS nodes. Its Wi-Fi network includes locations that the Company manages and operates, as well as networks managed and operated by third-parties with whom it contracts for access.

About iPass

iPass Inc. (iPass), is a provider of global mobile connectivity, offering wireless fidelity (Wi-Fi) on mobile devices. The Company, through its Mobile Connectivity Services segment, offers a cloud-based solution allowing its customers and their users’ access to its global Wi-Fi network to stay connected to the people and information. The Company has categorized its services into two approaches: Enterprise and Strategic Partnerships. Enterprise, formerly Open Mobile Enterprise (OME), focuses on providing mobile connectivity solutions to enterprises, from large to small. Strategic Partnerships, formerly Open Mobile Exchange (OMX), is executed through business development deals intended to open channel distributions for its product to reach the consumer market. Strategic Partnerships include global Original Equipment Manufacturers (OEMs), programs, including credit card companies, software product and service providers, and communication companies.

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