Boingo Wireless, Inc. (NASDAQ:WIFI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Boingo Wireless, Inc. (NASDAQ:WIFI) have been assigned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $18.04.

A number of research analysts recently commented on the stock. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $24.00 price objective (up from $18.00) on shares of Boingo Wireless in a research report on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 price objective (up from $17.00) on shares of Boingo Wireless in a research report on Wednesday. Benchmark Co. boosted their target price on shares of Boingo Wireless from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Craig Hallum boosted their target price on shares of Boingo Wireless from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, ValuEngine raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd.

In other news, VP Tom Tracey sold 25,000 shares of the 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 transaction, the vice president now owns 38,276 shares in the company, valued at approximately $706,192.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Hagan sold 75,000 shares of the stock in a transaction on Friday, July 7th. The shares were sold at an average price of $14.59, for a total transaction of $1,094,250.00. Following the completion of the transaction, the chief executive officer now owns 621,853 shares of the company’s stock, valued at approximately $9,072,835.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 925,765 shares of company stock valued at $14,379,321. Corporate insiders own 7.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in Boingo Wireless by 9.7% in the first quarter. Renaissance Technologies LLC now owns 1,941,005 shares of the technology company’s stock valued at $25,214,000 after buying an additional 172,305 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Boingo Wireless by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,806,629 shares of the technology company’s stock valued at $23,468,000 after buying an additional 48,357 shares during the last quarter. Vanguard Group Inc. raised its stake in Boingo Wireless by 10.8% in the first quarter. Vanguard Group Inc. now owns 1,716,153 shares of the technology company’s stock valued at $22,292,000 after buying an additional 167,407 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Boingo Wireless by 64.1% in the second quarter. Russell Investments Group Ltd. now owns 1,239,122 shares of the technology company’s stock valued at $18,538,000 after buying an additional 484,061 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in Boingo Wireless by 22.4% in the second quarter. Rice Hall James & Associates LLC now owns 838,974 shares of the technology company’s stock valued at $12,551,000 after buying an additional 153,705 shares during the last quarter. 86.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of Boingo Wireless (NASDAQ:WIFI) traded up 0.16% during mid-day trading on Friday, reaching $18.41. 151,713 shares of the company were exchanged. The company’s 50 day moving average price is $15.66 and its 200 day moving average price is $14.10. Boingo Wireless has a 12 month low of $8.10 and a 12 month high of $19.42. The firm’s market capitalization is $738.41 million.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.03. Boingo Wireless had a negative net margin of 13.85% and a negative return on equity of 25.82%. The company had revenue of $49 million for the quarter, compared to analysts’ expectations of $46.23 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities analysts anticipate that Boingo Wireless will post ($0.64) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Boingo Wireless, Inc. (NASDAQ:WIFI) Receives Average Recommendation of “Hold” from Brokerages” was originally posted by BNB Daily and is owned by of BNB Daily. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.baseball-news-blog.com/2017/08/19/analysts-set-boingo-wireless-inc-nasdaqwifi-price-target-at-15-04-updated-updated.html.

About Boingo Wireless

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor Distributed Antenna System (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.

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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