ValuEngine downgraded shares of Boingo Wireless (NASDAQ:WIFI) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.
Several other brokerages also recently issued reports on WIFI. Zacks Investment Research upgraded shares of Boingo Wireless from a hold rating to a buy rating and set a $30.00 target price on the stock in a research note on Thursday, March 8th. William Blair reiterated an outperform rating on shares of Boingo Wireless in a research note on Monday, March 12th. Credit Suisse Group reissued an outperform rating and set a $32.00 price objective (up from $27.00) on shares of Boingo Wireless in a report on Wednesday, February 28th. Jefferies Group boosted their price objective on shares of Boingo Wireless to $32.00 and gave the company a buy rating in a report on Wednesday, February 28th. Finally, Lake Street Capital reissued a buy rating and set a $30.00 price objective (up from $26.00) on shares of Boingo Wireless in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $29.63.
Shares of NASDAQ WIFI opened at $20.86 on Tuesday. The company has a market capitalization of $846.36 million, a PE ratio of -42.57 and a beta of 0.61. Boingo Wireless has a 52-week low of $14.33 and a 52-week high of $28.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39.
Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Tuesday, February 27th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.09. The firm had revenue of $57.35 million for the quarter, compared to the consensus estimate of $54.48 million. Boingo Wireless had a negative net margin of 7.13% and a negative return on equity of 15.98%. research analysts anticipate that Boingo Wireless will post -0.43 earnings per share for the current year.
In other Boingo Wireless news, VP Tom Tracey sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $25.80, for a total transaction of $645,000.00. Following the completion of the sale, the vice president now directly owns 49,818 shares of the company’s stock, valued at $1,285,304.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Terrell B. Jones sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $27.19, for a total transaction of $339,875.00. Following the sale, the director now directly owns 45,995 shares of the company’s stock, valued at $1,250,604.05. The disclosure for this sale can be found here. Insiders have sold 374,352 shares of company stock valued at $9,466,098 over the last three months. 3.80% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Advisor Group Inc. increased its holdings in Boingo Wireless by 781.9% during the fourth quarter. Advisor Group Inc. now owns 8,078 shares of the technology company’s stock valued at $181,000 after buying an additional 7,162 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Boingo Wireless during the first quarter valued at approximately $213,000. UBS Asset Management Americas Inc. purchased a new stake in Boingo Wireless during the fourth quarter valued at approximately $203,000. Suntrust Banks Inc. purchased a new stake in Boingo Wireless during the fourth quarter valued at approximately $230,000. Finally, Sei Investments Co. purchased a new stake in Boingo Wireless during the first quarter valued at approximately $290,000. 91.37% of the stock is owned by institutional investors and hedge funds.
About Boingo Wireless
Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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