Boingo Wireless (WIFI) Given a $40.00 Price Target at Roth Capital

Boingo Wireless (NASDAQ:WIFI) has been given a $40.00 price target by Roth Capital in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the technology company’s stock. Roth Capital’s price objective indicates a potential upside of 19.90% from the stock’s previous close.

A number of other equities 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 for the company in a research report on Tuesday, September 4th. Craig Hallum boosted their target price on shares of Boingo Wireless from $31.00 to $38.00 and gave the company a “buy” rating in a report on Friday, September 7th. BidaskClub downgraded shares of Boingo Wireless from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 22nd. Jefferies Financial Group boosted their target price on shares of Boingo Wireless from $33.00 to $38.00 and gave the company a “buy” rating in a report on Monday, August 20th. Finally, CIBC boosted their target price on shares of Boingo Wireless from $30.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, September 21st. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $36.75.

Shares of NASDAQ:WIFI traded down $0.04 during trading on Wednesday, reaching $33.36. The stock had a trading volume of 7,145 shares, compared to its average volume of 470,764. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $1.48 billion, a PE ratio of -68.08 and a beta of 0.60. Boingo Wireless has a fifty-two week low of $20.02 and a fifty-two week high of $35.98.

Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.19. The business had revenue of $59.60 million during 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%. The company’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) earnings per share. As a group, sell-side analysts expect that Boingo Wireless will post -0.21 earnings per share for the current fiscal year.

In related news, CEO David Hagan sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 12th. The shares were sold at an average price of $30.56, for a total value of $916,800.00. Following the completion of the sale, the chief executive officer now directly owns 522,314 shares in the company, valued at $15,961,915.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Peter Hovenier sold 4,461 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $33.51, for a total transaction of $149,488.11. Following the completion of the sale, the chief financial officer now owns 22,200 shares of the company’s stock, valued at $743,922. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,865 shares of company stock valued at $8,943,560. 3.80% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in WIFI. GSA Capital Partners LLP purchased a new stake in Boingo Wireless during the second quarter worth approximately $228,000. Bank of Montreal Can grew its stake 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 buying an additional 8,928 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Boingo Wireless by 38.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 11,916 shares of the technology company’s stock worth $269,000 after buying an additional 3,310 shares during the period. Sei Investments Co. purchased a new stake in Boingo Wireless during the first quarter worth approximately $290,000. Finally, Fox Run Management L.L.C. purchased a new stake in Boingo Wireless during the second quarter worth approximately $302,000. Hedge funds and other 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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