Jefferies Group LLC reaffirmed their buy rating on shares of Boingo Wireless, Inc. (NASDAQ:WIFI) in a report published on Wednesday, August 9th. Jefferies Group LLC currently has a $20.00 price target on the technology company’s stock, up from their prior price target of $17.00.
Other equities research analysts have also recently issued reports about the stock. ValuEngine raised shares of Boingo Wireless from a sell rating to a hold rating in a report on Friday, June 2nd. Benchmark Co. upped their target price on shares of Boingo Wireless from $18.00 to $24.00 and gave the company a buy rating in a report on Friday, August 4th. Ladenburg Thalmann Financial Services upped their target price on shares of Boingo Wireless from $16.85 to $18.50 and gave the company a buy rating in a report on Thursday, May 25th. Zacks Investment Research raised shares of Boingo Wireless from a hold rating to a buy rating and set a $17.00 target price for the company in a report on Wednesday, July 5th. Finally, Credit Suisse Group upped their target price on shares of Boingo Wireless from $16.00 to $17.00 and gave the company an outperform rating in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $17.93.
Shares of Boingo Wireless (NASDAQ:WIFI) traded down 0.10% during midday trading on Wednesday, reaching $19.27. The company’s stock had a trading volume of 326,921 shares. The stock’s market capitalization is $772.90 million. The company has a 50 day moving average of $16.28 and a 200-day moving average of $14.41. Boingo Wireless has a 52 week low of $8.10 and a 52 week high of $19.71.
Boingo Wireless (NASDAQ:WIFI) last announced its earnings results on Thursday, August 3rd. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $49 million during the quarter, compared to analysts’ expectations of $46.23 million. During the same period in the previous year, the company posted ($0.19) earnings per share. Boingo Wireless’s quarterly revenue was up 25.3% on a year-over-year basis. Equities research analysts predict that Boingo Wireless will post ($0.64) earnings per share for the current year.
In other Boingo Wireless news, VP Tom Tracey sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $16.87, for a total transaction of $168,700.00. Following the transaction, the vice president now directly owns 40,022 shares in the company, valued at $675,171.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter Hovenier sold 10,237 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $15.86, for a total transaction of $162,358.82. Following the transaction, the chief financial officer now owns 49,730 shares in the company, valued at $788,717.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 985,765 shares of company stock worth $15,549,721. Company insiders own 7.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Castleark Management LLC bought a new position in shares of Boingo Wireless during the second quarter valued at $8,995,000. The Manufacturers Life Insurance Company raised its position in shares of Boingo Wireless by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 30,153 shares of the technology company’s stock valued at $452,000 after buying an additional 1,178 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Boingo Wireless during the second quarter valued at $252,000. State Street Corp raised its position in shares of Boingo Wireless by 15.3% in the second quarter. State Street Corp now owns 700,478 shares of the technology company’s stock valued at $10,476,000 after buying an additional 92,895 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new position in shares of Boingo Wireless during the second quarter valued at $237,000. Institutional investors own 81.44% 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 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.
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