Boingo Wireless’ (WIFI) Outperform Rating Reiterated at Oppenheimer Holdings Inc.

Boingo Wireless’ (WIFI) Outperform Rating Reiterated at Oppenheimer Holdings Inc.

Oppenheimer Holdings Inc. restated their outperform rating on shares of Boingo Wireless Inc (NASDAQ:WIFI) in a research note released on Friday morning. Oppenheimer Holdings Inc. currently has a $15.00 price objective on the stock.

A number of other brokerages have also recently issued reports on WIFI. BTIG Research reaffirmed a sell rating and issued a $6.85 price objective on shares of Boingo Wireless in a research note on Thursday, January 5th. Zacks Investment Research raised shares of Boingo Wireless from a sell rating to a hold rating in a research note on Saturday, January 7th. Lake Street Capital reaffirmed a buy rating and issued a $14.00 price objective (up previously from $12.00) on shares of Boingo Wireless in a research note on Wednesday, March 8th. Finally, Jefferies Group LLC upped their price objective on shares of Boingo Wireless from $13.00 to $14.00 and gave the company a buy rating in a research note on Wednesday, March 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $12.14.

Shares of Boingo Wireless (NASDAQ:WIFI) opened at 12.22 on Friday. Boingo Wireless has a 12-month low of $6.56 and a 12-month high of $12.95. The firm’s market capitalization is $471.23 million. The firm has a 50-day moving average of $11.49 and a 200-day moving average of $11.01.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data on Tuesday, March 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.11). Boingo Wireless had a negative net margin of 17.38% and a negative return on equity of 25.35%. The company earned $44.97 million during the quarter, compared to analysts’ expectations of $45.83 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The firm’s revenue was up 16.0% on a year-over-year basis. Equities analysts anticipate that Boingo Wireless will post ($0.59) earnings per share for the current year.

A number of large investors have recently bought and sold shares of WIFI. Russell Investments Group Ltd. purchased a new stake in Boingo Wireless during the fourth quarter worth approximately $7,463,000. Croft Leominster Inc. bought a new position in shares of Boingo Wireless during the third quarter valued at approximately $287,000. Timpani Capital Management LLC raised its position in shares of Boingo Wireless by 8.1% in the third quarter. Timpani Capital Management LLC now owns 208,700 shares of the company’s stock valued at $2,145,000 after buying an additional 15,703 shares during the period. 1492 Capital Management LLC raised its position in shares of Boingo Wireless by 14.2% in the third quarter. 1492 Capital Management LLC now owns 369,340 shares of the company’s stock valued at $3,797,000 after buying an additional 45,909 shares during the period. Finally, Spark Investment Management LLC raised its position in shares of Boingo Wireless by 577.2% in the third quarter. Spark Investment Management LLC now owns 117,100 shares of the company’s stock valued at $1,203,000 after buying an additional 99,809 shares during the period. Institutional investors own 87.62% of the company’s stock.

About Boingo Wireless

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services for carriers. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices segment.

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