Boingo Wireless Inc (WIFI) Given Average Rating of “Buy” by Analysts

Shares of Boingo Wireless Inc (NASDAQ:WIFI) have been given an average rating of “Buy” by the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $33.38.

A number of equities research analysts recently commented on the stock. William Blair reissued an “outperform” rating on shares of Boingo Wireless in a research note on Friday, February 22nd. ValuEngine lowered shares of Boingo Wireless from a “buy” rating to a “hold” rating in a report on Monday, February 25th. Credit Suisse Group restated a “buy” rating and issued a $35.00 target price on shares of Boingo Wireless in a report on Monday, January 28th. Northland Securities set a $35.00 target price on shares of Boingo Wireless and gave the company a “buy” rating in a report on Thursday, February 28th. Finally, Craig Hallum restated a “buy” rating and issued a $28.00 target price (down from $36.00) on shares of Boingo Wireless in a report on Thursday, February 28th.

In other news, CFO Peter Hovenier sold 45,000 shares of the stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $25.21, for a total transaction of $1,134,450.00. Following the transaction, the chief financial officer now directly owns 450,723 shares in the company, valued at approximately $11,362,726.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Hagan sold 15,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.56, for a total transaction of $308,400.00. Following the transaction, the chief executive officer now owns 1,133,375 shares in the company, valued at $23,302,190. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,000 shares of company stock worth $3,438,750. 3.80% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Boingo Wireless by 1.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 40,110 shares of the technology company’s stock worth $825,000 after acquiring an additional 430 shares during the period. Citigroup Inc. raised its holdings in Boingo Wireless by 4.6% in the fourth quarter. Citigroup Inc. now owns 14,096 shares of the technology company’s stock valued at $290,000 after buying an additional 621 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Boingo Wireless by 6.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 12,627 shares of the technology company’s stock valued at $260,000 after buying an additional 711 shares during the period. Legal & General Group Plc raised its holdings in Boingo Wireless by 13.7% in the fourth quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock valued at $150,000 after buying an additional 882 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in Boingo Wireless by 75.6% in the fourth quarter. Macquarie Group Ltd. now owns 2,067 shares of the technology company’s stock valued at $42,000 after buying an additional 890 shares during the period. Institutional investors and hedge funds own 93.84% of the company’s stock.

NASDAQ WIFI traded down $0.10 during trading hours on Friday, reaching $23.28. The company’s stock had a trading volume of 575,567 shares, compared to its average volume of 554,598. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -776.00 and a beta of 1.09. Boingo Wireless has a fifty-two week low of $18.50 and a fifty-two week high of $35.98. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20.

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.

See Also: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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