Boingo Wireless Inc (NASDAQ:WIFI) has earned a consensus rating of “Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $32.75.

A number of analysts have commented on WIFI shares. Roth Capital reaffirmed a “buy” rating on shares of Boingo Wireless in a research note on Friday, March 1st. William Blair reaffirmed an “outperform” rating on shares of Boingo Wireless in a research note on Friday, February 22nd. Credit Suisse Group reduced their price objective on shares of Boingo Wireless from $35.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, February 28th. Northland Securities set a $35.00 price objective on shares of Boingo Wireless and gave the company a “buy” rating in a research note on Thursday, February 28th. Finally, ValuEngine lowered shares of Boingo Wireless from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd.

NASDAQ WIFI traded down $0.08 on Tuesday, reaching $24.08. The company’s stock had a trading volume of 381,167 shares, compared to its average volume of 564,398. Boingo Wireless has a twelve month low of $18.50 and a twelve month 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. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -802.67 and a beta of 1.09.

Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings results on Wednesday, February 27th. The technology company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.10. Boingo Wireless had a negative net margin of 0.49% and a negative return on equity of 1.08%. The company had revenue of $67.81 million during the quarter, compared to the consensus estimate of $67.18 million. As a group, research analysts predict that Boingo Wireless will post -0.31 earnings per share for the current year.

In other news, CFO Peter Hovenier sold 45,000 shares of the company’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $25.21, for a total value of $1,134,450.00. Following the transaction, the chief financial officer now owns 450,723 shares in the company, valued at approximately $11,362,726.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Hagan sold 29,364 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $25.36, for a total value of $744,671.04. Following the completion of the transaction, the director now owns 1,103,375 shares in the company, valued at approximately $27,981,590. The disclosure for this sale can be found here. Insiders have sold 159,364 shares of company stock valued at $3,881,071 over the last ninety days. Insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of WIFI. BlackRock Inc. increased its holdings in shares of Boingo Wireless by 1.3% in the 3rd quarter. BlackRock Inc. now owns 3,269,302 shares of the technology company’s stock valued at $114,097,000 after purchasing an additional 40,875 shares during the period. Verition Fund Management LLC acquired a new position in shares of Boingo Wireless in the 3rd quarter valued at about $290,000. MetLife Investment Advisors LLC increased its holdings in shares of Boingo Wireless by 58.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 27,512 shares of the technology company’s stock valued at $960,000 after purchasing an additional 10,122 shares during the period. AQR Capital Management LLC increased its holdings in shares of Boingo Wireless by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 128,663 shares of the technology company’s stock valued at $4,490,000 after purchasing an additional 30,576 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Boingo Wireless by 7.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,304,762 shares of the technology company’s stock valued at $115,336,000 after purchasing an additional 217,283 shares during the period. Institutional investors own 93.84% of the company’s stock.

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.

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Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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