Boingo Wireless (NASDAQ:WIFI) Given a $28.00 Price Target at Credit Suisse Group

Credit Suisse Group set a $28.00 target price on Boingo Wireless (NASDAQ:WIFI) in a report issued on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also weighed in on WIFI. Zacks Investment Research raised Boingo Wireless from a hold rating to a buy rating and set a $16.00 price objective on the stock in a report on Saturday. Craig Hallum decreased their price target on Boingo Wireless from $29.00 to $22.00 and set a buy rating on the stock in a research note on Friday. BidaskClub lowered Boingo Wireless from a sell rating to a strong sell rating in a research note on Saturday, June 29th. ValuEngine raised Boingo Wireless from a sell rating to a hold rating in a research note on Friday. Finally, Northland Securities reissued a buy rating on shares of Boingo Wireless in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. Boingo Wireless currently has a consensus rating of Buy and a consensus price target of $29.67.

Boingo Wireless stock traded down $0.32 during mid-day trading on Friday, hitting $12.77. The company’s stock had a trading volume of 43,713 shares, compared to its average volume of 883,494. Boingo Wireless has a 1 year low of $12.60 and a 1 year high of $35.98. The business has a fifty day moving average price of $17.43. The firm has a market cap of $580.60 million, a price-to-earnings ratio of -426.00 and a beta of 1.01. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.89.

Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). The business had revenue of $66.47 million during the quarter, compared to analyst estimates of $65.74 million. Boingo Wireless had a negative net margin of 1.88% and a negative return on equity of 4.49%. As a group, analysts predict that Boingo Wireless will post -0.4 earnings per share for the current fiscal year.

In related news, Director David Hagan sold 98,346 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $18.15, for a total transaction of $1,784,979.90. Following the completion of the sale, the director now directly owns 1,056,229 shares of the company’s stock, valued at approximately $19,170,556.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Derek Peterson sold 11,628 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $21.77, for a total transaction of $253,141.56. Following the sale, the insider now directly owns 57,447 shares of the company’s stock, valued at $1,250,621.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,854 shares of company stock valued at $2,760,389. 4.50% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Los Angeles Capital Management & Equity Research Inc. boosted its position in Boingo Wireless by 1.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 45,164 shares of the technology company’s stock valued at $1,051,000 after buying an additional 750 shares during the last quarter. Legal & General Group Plc boosted its position in Boingo Wireless by 13.7% in the 4th 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 last quarter. Macquarie Group Ltd. boosted its position in Boingo Wireless by 75.6% in the 4th 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 last quarter. New Jersey Better Educational Savings Trust boosted its position in Boingo Wireless by 7.7% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 14,000 shares of the technology company’s stock valued at $252,000 after buying an additional 1,000 shares during the last quarter. Finally, Swiss National Bank boosted its position in Boingo Wireless by 2.5% in the 2nd quarter. Swiss National Bank now owns 79,350 shares of the technology company’s stock valued at $1,426,000 after buying an additional 1,900 shares during the last quarter.

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 worldwide. The company offers distributed antenna systems and small cell networks at managed and operated locations; high-speed Wi-Fi services for residential consumers on military bases and at multifamily properties; and wholesale Wi-Fi services to network operators, device manufacturers, technology companies, enterprise software and services companies, venue operators, and financial services companies, as well as retail Internet access services.

Recommended Story: Buy Rating

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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