Oppenheimer Holdings, Inc. reaffirmed their buy rating on shares of Boingo Wireless, Inc. (NASDAQ:WIFI) in a report published on Wednesday morning. Oppenheimer Holdings, Inc. currently has a $30.00 price objective on the technology company’s stock.
WIFI has been the topic of several other reports. Credit Suisse Group raised their price objective on shares of Boingo Wireless from $24.00 to $26.00 and gave the company an outperform rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Boingo Wireless from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research report on Thursday, October 5th. Craig Hallum raised their price objective on shares of Boingo Wireless from $24.00 to $28.00 and gave the company a buy rating in a research report on Friday, November 3rd. Jefferies Group LLC raised their price objective on shares of Boingo Wireless from $20.00 to $27.00 and gave the company a buy rating in a research report on Friday, November 3rd. Finally, BidaskClub downgraded shares of Boingo Wireless from a hold rating to a sell rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $22.04.
Shares of Boingo Wireless (WIFI) traded up $0.67 during trading on Wednesday, hitting $22.18. 1,231,700 shares of the stock traded hands, compared to its average volume of 338,058. Boingo Wireless has a 1-year low of $10.46 and a 1-year high of $25.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50.
Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. The business had revenue of $53.66 million for the quarter, compared to analysts’ expectations of $50.22 million. Boingo Wireless had a negative net margin of 11.75% and a negative return on equity of 23.62%. The company’s revenue was up 31.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) EPS. equities analysts expect that Boingo Wireless will post -0.59 EPS for the current fiscal year.
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In other Boingo Wireless news, insider Derek Peterson sold 50,000 shares of Boingo Wireless stock in a transaction on Monday, September 11th. The shares were sold at an average price of $20.80, for a total value of $1,040,000.00. Following the sale, the insider now directly owns 60,496 shares in the company, valued at approximately $1,258,316.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Peter Hovenier sold 18,552 shares of Boingo Wireless stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $21.31, for a total transaction of $395,343.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,285 shares of company stock worth $3,003,816. 7.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can bought a new stake in Boingo Wireless in the 3rd quarter valued at $114,000. Legal & General Group Plc increased its holdings in Boingo Wireless by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after acquiring an additional 341 shares during the last quarter. Royal Bank of Canada increased its holdings in Boingo Wireless by 1.3% in the 2nd quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock valued at $156,000 after acquiring an additional 135 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in Boingo Wireless in the 3rd quarter valued at $229,000. Finally, American Century Companies Inc. bought a new stake in Boingo Wireless in the 2nd quarter valued at $164,000. Institutional investors own 86.58% of the company’s stock.
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.
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