Boingo Wireless (NASDAQ:WIFI) had its target price raised by CIBC from $30.00 to $39.00 in a report issued on Friday, September 21st. The brokerage currently has an outperform rating on the technology company’s stock.

WIFI has been the subject of several other reports. ValuEngine upgraded shares of Boingo Wireless from a buy rating to a strong-buy rating in a research report on Monday, June 11th. BidaskClub upgraded shares of Boingo Wireless from a hold rating to a buy rating in a research report on Friday, July 6th. Craig Hallum raised their price objective on shares of Boingo Wireless from $31.00 to $38.00 and gave the stock a buy rating in a research report on Friday, September 7th. Zacks Investment Research cut shares of Boingo Wireless from a buy rating to a hold rating in a research report on Saturday, September 1st. Finally, Oppenheimer increased their target price 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. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $35.75.

NASDAQ:WIFI traded up $0.54 during trading hours on Friday, reaching $30.56. 495,235 shares of the company were exchanged, compared to its average volume of 470,787. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $1.48 billion, a PE ratio of -62.37 and a beta of 0.60. Boingo Wireless has a twelve month low of $20.02 and a twelve month high of $35.98.

Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Wednesday, August 1st. The technology company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.19. The business had revenue of $59.60 million during the quarter, compared to analysts’ expectations of $56.52 million. Boingo Wireless had a negative net margin of 2.44% and a negative return on equity of 5.51%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) earnings per share. Research analysts forecast that Boingo Wireless will post -0.21 earnings per share for the current year.

In related news, CEO David Hagan sold 59,500 shares of Boingo Wireless stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $23.44, for a total value of $1,394,680.00. Following the completion of the transaction, the chief executive officer now owns 684,870 shares in the company, valued at $16,053,352.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Tom Tracey sold 25,000 shares of Boingo Wireless stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $31.44, for a total transaction of $786,000.00. Following the completion of the transaction, the vice president now owns 46,605 shares of the company’s stock, valued at approximately $1,465,261.20. The disclosure for this sale can be found here. In the last three months, insiders sold 309,365 shares of company stock valued at $9,421,440. Insiders own 3.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System acquired a new stake in Boingo Wireless during the first quarter worth approximately $213,000. GSA Capital Partners LLP acquired a new stake in Boingo Wireless during the second quarter worth approximately $228,000. Bank of Montreal Can raised its holdings in Boingo Wireless by 557.7% during the second 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. Sei Investments Co. acquired a new stake in Boingo Wireless during the first quarter worth approximately $290,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Boingo Wireless in the 2nd quarter valued at $302,000. Institutional investors own 95.69% of the company’s stock.

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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Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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