Equities research analysts predict that Boingo Wireless Inc (NASDAQ:WIFI) will post sales of $67.18 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Boingo Wireless’ earnings. The highest sales estimate is $68.17 million and the lowest is $65.60 million. Boingo Wireless reported sales of $57.35 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17.1%. The company is expected to announce its next earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that Boingo Wireless will report full-year sales of $250.21 million for the current year, with estimates ranging from $248.70 million to $251.18 million. For the next financial year, analysts forecast that the business will post sales of $298.98 million, with estimates ranging from $292.40 million to $310.81 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Boingo Wireless.
Several equities analysts have issued reports on the company. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Tuesday, November 6th. BidaskClub lowered Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Saturday, November 3rd. ValuEngine lowered Boingo Wireless from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 20th. Roth Capital set a $40.00 target price on Boingo Wireless and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 target price (down from $38.00) on shares of Boingo Wireless in a research report on Tuesday, November 13th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Boingo Wireless has a consensus rating of “Buy” and a consensus price target of $36.00.
Shares of WIFI opened at $24.26 on Thursday. Boingo Wireless has a 52-week low of $18.50 and a 52-week high of $35.98. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -49.51 and a beta of 1.07.
In other news, CFO Peter Hovenier sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $23.95, for a total transaction of $119,750.00. Following the transaction, the chief financial officer now directly owns 476,723 shares of the company’s stock, valued at $11,417,515.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Hagan sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $22.28, for a total value of $668,400.00. Following the transaction, the chief executive officer now directly owns 490,314 shares in the company, valued at $10,924,195.92. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock worth $1,633,000 over the last ninety days. 3.80% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Ibex Investors LLC purchased a new stake in Boingo Wireless in the 3rd quarter valued at $222,000. Trexquant Investment LP purchased a new stake in Boingo Wireless in the 3rd quarter valued at $276,000. D.A. Davidson & CO. purchased a new stake in Boingo Wireless in the 3rd quarter valued at $276,000. Brown Advisory Inc. purchased a new stake in Boingo Wireless in the 3rd quarter valued at $290,000. Finally, Verition Fund Management LLC purchased a new stake in Boingo Wireless in the 3rd quarter valued at $290,000. 93.06% of the stock is currently owned by institutional investors.
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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