Boingo Wireless Inc (NASDAQ:WIFI) Expected to Post Quarterly Sales of $62.83 Million

Equities analysts expect that Boingo Wireless Inc (NASDAQ:WIFI) will report sales of $62.83 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Boingo Wireless’ earnings, with the lowest sales estimate coming in at $62.17 million and the highest estimate coming in at $63.60 million. Boingo Wireless reported sales of $65.25 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The firm is scheduled to announce its next earnings results on Thursday, November 7th.

On average, analysts expect that Boingo Wireless will report full-year sales of $270.69 million for the current fiscal year, with estimates ranging from $267.53 million to $273.03 million. For the next fiscal year, analysts anticipate that the business will post sales of $299.57 million, with estimates ranging from $290.60 million to $309.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Boingo Wireless.

Several equities research analysts have issued reports on the stock. Craig Hallum decreased their price objective on shares of Boingo Wireless from $29.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Credit Suisse Group set a $28.00 price objective on shares of Boingo Wireless and gave the stock a “buy” rating in a research note on Friday, August 2nd. BidaskClub downgraded shares of Boingo Wireless from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 29th. Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Saturday, August 3rd. Finally, Northland Securities restated a “buy” rating on shares of Boingo Wireless in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $29.67.

WIFI traded down $0.15 during trading on Friday, hitting $11.17. 873,500 shares of the company’s stock were exchanged, compared to its average volume of 609,708. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.88. Boingo Wireless has a 1 year low of $10.83 and a 1 year high of $35.98. The stock has a 50 day moving average price of $15.20 and a 200 day moving average price of $20.28. The firm has a market cap of $496.68 million, a P/E ratio of -372.33 and a beta of 1.01.

In other Boingo Wireless news, CFO Peter Hovenier sold 5,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.80, for a total transaction of $89,000.00. Following the transaction, the chief financial officer now directly owns 380,723 shares in the company, valued at approximately $6,776,869.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Hagan sold 98,346 shares of the 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 transaction, the director now owns 1,056,229 shares in the company, valued at $19,170,556.35. The disclosure for this sale can be found here. Insiders have sold a total of 139,226 shares of company stock worth $2,507,248 over the last quarter. 4.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Boingo Wireless by 59.6% during the first quarter. FMR LLC now owns 6,308,084 shares of the technology company’s stock worth $146,853,000 after purchasing an additional 2,354,550 shares during the period. Vanguard Group Inc. raised its holdings in shares of Boingo Wireless by 3.8% during the second quarter. Vanguard Group Inc. now owns 3,496,812 shares of the technology company’s stock worth $62,837,000 after purchasing an additional 127,674 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Boingo Wireless by 0.8% during the second quarter. Renaissance Technologies LLC now owns 2,900,700 shares of the technology company’s stock worth $52,126,000 after purchasing an additional 23,600 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Boingo Wireless by 1.0% during the second quarter. Victory Capital Management Inc. now owns 1,977,670 shares of the technology company’s stock worth $35,538,000 after purchasing an additional 18,720 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in shares of Boingo Wireless by 249.5% during the second quarter. Handelsbanken Fonder AB now owns 1,922,000 shares of the technology company’s stock worth $34,538,000 after purchasing an additional 1,372,000 shares during the period.

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

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