Boingo Wireless (NASDAQ:WIFI) – Stock analysts at Oppenheimer reduced their Q1 2018 earnings estimates for Boingo Wireless in a research report issued on Wednesday, April 11th. Oppenheimer analyst T. Horan now forecasts that the technology company will post earnings per share of ($0.14) for the quarter, down from their previous forecast of ($0.10). Oppenheimer also issued estimates for Boingo Wireless’ Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at ($0.09) EPS, Q4 2018 earnings at ($0.09) EPS, FY2018 earnings at ($0.41) EPS and FY2019 earnings at ($0.32) EPS.
A number of other brokerages have also recently weighed in on WIFI. William Blair reiterated an “outperform” rating on shares of Boingo Wireless in a research report on Monday, March 12th. Zacks Investment Research upgraded Boingo Wireless from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Thursday, March 8th. Northland Securities reiterated a “buy” rating on shares of Boingo Wireless in a research report on Thursday, March 1st. BidaskClub cut Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Friday, March 30th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $32.00 price target (up from $27.00) on shares of Boingo Wireless in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $28.39.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Tuesday, February 27th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. Boingo Wireless had a negative return on equity of 20.09% and a negative net margin of 9.40%. The business had revenue of $57.35 million for the quarter, compared to analysts’ expectations of $54.48 million.
In other Boingo Wireless news, VP Tom Tracey sold 25,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $25.87, for a total value of $646,750.00. Following the transaction, the vice president now owns 49,818 shares of the company’s stock, valued at $1,288,791.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Derek Peterson sold 23,853 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $28.01, for a total value of $668,122.53. The disclosure for this sale can be found here. In the last three months, insiders sold 374,352 shares of company stock worth $9,439,720. Insiders own 7.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of WIFI. Great West Life Assurance Co. Can acquired a new position in Boingo Wireless in the third quarter worth $114,000. Advisor Group Inc. boosted its stake in Boingo Wireless by 781.9% in the fourth quarter. Advisor Group Inc. now owns 8,078 shares of the technology company’s stock worth $181,000 after purchasing an additional 7,162 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in Boingo Wireless in the fourth quarter worth $203,000. First Republic Investment Management Inc. acquired a new position in Boingo Wireless in the third quarter worth $229,000. Finally, Suntrust Banks Inc. acquired a new position in Boingo Wireless in the fourth quarter worth $230,000. 91.12% of the stock is currently owned by institutional investors.
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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. 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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