Boingo Wireless (WIFI) PT Set at $40.00 by Roth Capital

Boingo Wireless (NASDAQ:WIFI) received a $40.00 price objective from investment analysts at Roth Capital in a research report issued to clients and investors on Wednesday, October 17th, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Roth Capital’s target price would suggest a potential upside of 59.87% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, September 4th. Craig Hallum boosted their price target on shares of Boingo Wireless from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. BidaskClub lowered shares of Boingo Wireless from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 22nd. Jefferies Financial Group boosted their price target on shares of Boingo Wireless from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Finally, CIBC boosted their price target on shares of Boingo Wireless from $30.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 21st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Boingo Wireless presently has a consensus rating of “Buy” and an average price target of $36.00.

WIFI traded up $0.13 on Wednesday, hitting $25.02. 1,096,818 shares of the company’s stock were exchanged, compared to its average volume of 664,019. Boingo Wireless has a fifty-two week low of $20.02 and a fifty-two week high of $35.98. The company has a quick ratio of 0.43, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Boingo Wireless (NASDAQ:WIFI) last announced its earnings results on Thursday, November 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. Boingo Wireless had a negative net margin of 1.10% and a negative return on equity of 2.53%. The company had revenue of $65.25 million for the quarter, compared to analysts’ expectations of $63.32 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, analysts forecast that Boingo Wireless will post -0.13 EPS for the current year.

In related news, insider Dawn Callahan sold 29,953 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $31.47, for a total transaction of $942,620.91. Following the completion of the sale, the insider now directly owns 4,953 shares of the company’s stock, valued at $155,870.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Hagan sold 30,000 shares of the stock in a transaction on Friday, October 12th. The stock was sold at an average price of $30.56, for a total value of $916,800.00. Following the sale, the chief executive officer now directly owns 522,314 shares of the company’s stock, valued at $15,961,915.84. The disclosure for this sale can be found here. Insiders have sold 247,865 shares of company stock worth $7,939,650 over the last 90 days. Insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in Boingo Wireless in the second quarter worth $228,000. Bank of Montreal Can increased its position in Boingo Wireless by 557.7% during the 2nd quarter. Bank of Montreal Can now owns 10,529 shares of the technology company’s stock worth $238,000 after purchasing an additional 8,928 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Boingo Wireless by 38.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 11,916 shares of the technology company’s stock worth $269,000 after buying an additional 3,310 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Boingo Wireless in the 3rd quarter valued at about $276,000. Finally, Sei Investments Co. acquired a new position in shares of Boingo Wireless in the 1st quarter valued at about $290,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

Boingo Wireless Company Profile

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.

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The Fly

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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