Boingo Wireless, Inc. (NASDAQ:WIFI) Issues Q3 Earnings Guidance

Boingo Wireless, Inc. (NASDAQ:WIFI) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of ($0.18)-($0.10) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.16). The company issued revenue guidance of $48-52 million, compared to the consensus revenue estimate of $47.29 million.Boingo Wireless also updated its FY17 guidance to ($0.71)-($0.61) EPS.

Boingo Wireless, Inc. (NASDAQ:WIFI) traded up 27.22% during midday trading on Friday, reaching $19.21. 2,270,131 shares of the company’s stock traded hands. Boingo Wireless, Inc. has a 1-year low of $8.10 and a 1-year high of $19.42. The company’s market capitalization is $748.88 million. The firm’s 50 day moving average price is $15.31 and its 200-day moving average price is $13.86.

Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. Boingo Wireless had a negative return on equity of 25.52% and a negative net margin of 13.85%. The business 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 business posted ($0.19) earnings per share. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities analysts expect that Boingo Wireless, Inc. will post ($0.65) EPS for the current year.

Several research analysts have issued reports on WIFI shares. Credit Suisse Group reissued a buy rating and set a $16.00 price objective on shares of Boingo Wireless in a research report on Tuesday, April 18th. Benchmark Co. started coverage on shares of Boingo Wireless in a research report on Tuesday, April 25th. They set a buy rating and a $18.00 price objective on the stock. Craig Hallum raised their price objective on shares of Boingo Wireless from $13.00 to $17.00 and gave the stock a buy rating in a research report on Monday, May 15th. Zacks Investment Research downgraded shares of Boingo Wireless from a buy rating to a hold rating in a research report on Friday, July 7th. Finally, Ladenburg Thalmann Financial Services raised their price objective on shares of Boingo Wireless from $16.85 to $18.50 and gave the stock a buy rating in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $16.26.

In other news, VP Tom Tracey sold 10,000 shares of Boingo Wireless stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $16.87, for a total value of $168,700.00. Following the sale, the vice president now owns 40,022 shares of the company’s stock, valued at $675,171.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dawn Callahan sold 100,000 shares of Boingo Wireless stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $15.90, for a total transaction of $1,590,000.00. Following the completion of the sale, the insider now directly owns 58,425 shares in the company, valued at approximately $928,957.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,132,777 shares of company stock worth $17,590,592. Insiders own 7.70% of the company’s stock.

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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.