Research Analysts Issue Forecasts for Boingo Wireless Inc’s FY2020 Earnings (WIFI)

Boingo Wireless Inc (NASDAQ:WIFI) – Investment analysts at Oppenheimer issued their FY2020 EPS estimates for shares of Boingo Wireless in a research note issued to investors on Friday, September 21st. Oppenheimer analyst T. Horan expects that the technology company will earn ($0.29) per share for the year. Oppenheimer has a “Outperform” rating and a $39.00 price target on the stock.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, September 4th. Craig Hallum raised their price objective on shares of Boingo Wireless from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Jefferies Financial Group raised their price objective on shares of Boingo Wireless from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, August 20th. Roth Capital set a $32.00 price objective on shares of Boingo Wireless and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, BidaskClub raised shares of Boingo Wireless from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $35.75.

Shares of NASDAQ WIFI opened at $33.11 on Monday. Boingo Wireless has a 12-month low of $20.02 and a 12-month high of $35.98. The firm has a market cap of $1.37 billion, a P/E ratio of -67.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.43 and a current ratio of 0.43.

Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Wednesday, August 1st. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.19. The business had revenue of $59.60 million for the quarter, compared to analyst estimates of $56.52 million. Boingo Wireless had a negative net margin of 2.44% and a negative return on equity of 5.51%. Boingo Wireless’s revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.20) earnings per share.

Several hedge funds have recently made changes to their positions in the company. NJ State Employees Deferred Compensation Plan raised its holdings in shares of Boingo Wireless by 5.0% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 42,000 shares of the technology company’s stock valued at $949,000 after purchasing an additional 2,000 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Boingo Wireless by 25.1% in the second quarter. First Republic Investment Management Inc. now owns 13,728 shares of the technology company’s stock valued at $310,000 after purchasing an additional 2,754 shares during the last quarter. Barclays PLC raised its holdings in shares of Boingo Wireless by 17.3% in the first quarter. Barclays PLC now owns 18,926 shares of the technology company’s stock valued at $469,000 after purchasing an additional 2,795 shares during the last quarter. A.R.T. Advisors LLC raised its holdings in shares of Boingo Wireless by 11.6% in the first quarter. A.R.T. Advisors LLC now owns 26,934 shares of the technology company’s stock valued at $667,000 after purchasing an additional 2,800 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust raised its holdings in shares of Boingo Wireless by 17.6% in the second quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the technology company’s stock valued at $452,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 95.69% of the company’s stock.

In other Boingo Wireless news, VP Tom Tracey sold 25,000 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $31.44, for a total value of $786,000.00. Following the transaction, the vice president now directly owns 46,605 shares of the company’s stock, valued at $1,465,261.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Hagan sold 59,500 shares of the firm’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $23.44, for a total transaction of $1,394,680.00. Following the completion of the transaction, the chief executive officer now directly owns 684,870 shares in the company, valued at $16,053,352.80. The disclosure for this sale can be found here. Insiders sold 329,198 shares of company stock worth $9,892,276 over the last ninety days. Insiders own 3.80% 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.

Featured Article: Stop Order Uses For Individual Investors

Earnings History and Estimates for Boingo Wireless (NASDAQ:WIFI)

Receive News & Ratings for Boingo Wireless Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boingo Wireless and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply