Equities research analysts predict that Boingo Wireless Inc (NASDAQ:WIFI) will post $69.91 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Boingo Wireless’ earnings, with estimates ranging from $69.30 million to $71.00 million. Boingo Wireless reported sales of $67.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The business is scheduled to report its next earnings results on Wednesday, February 26th.
According to Zacks, analysts expect that Boingo Wireless will report full year sales of $269.67 million for the current financial year, with estimates ranging from $269.10 million to $270.80 million. For the next fiscal year, analysts anticipate that the company will post sales of $286.43 million, with estimates ranging from $280.20 million to $292.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Boingo Wireless.
WIFI has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. BidaskClub upgraded Boingo Wireless from a “strong sell” rating to a “sell” rating in a research report on Saturday. Craig Hallum restated a “buy” rating and issued a $18.00 price target (down previously from $22.00) on shares of Boingo Wireless in a research report on Wednesday, November 6th. Finally, William Blair reaffirmed a “buy” rating on shares of Boingo Wireless in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $22.00.
Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Boingo Wireless by 122.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,986 shares of the technology company’s stock worth $66,000 after purchasing an additional 3,300 shares in the last quarter. Man Group plc acquired a new position in Boingo Wireless in the 3rd quarter valued at about $132,000. Tower Research Capital LLC TRC lifted its holdings in Boingo Wireless by 44.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,104 shares of the technology company’s stock valued at $134,000 after purchasing an additional 3,704 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Boingo Wireless by 25.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,756 shares of the technology company’s stock valued at $193,000 after purchasing an additional 2,216 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Boingo Wireless by 31.0% in the 3rd quarter. Stifel Financial Corp now owns 19,667 shares of the technology company’s stock valued at $219,000 after purchasing an additional 4,649 shares in the last quarter. Institutional investors and hedge funds own 98.81% of the company’s stock.
NASDAQ WIFI opened at $12.27 on Friday. The business has a 50 day moving average price of $10.96 and a 200 day moving average price of $14.09. The company has a market capitalization of $541.86 million, a P/E ratio of -409.00 and a beta of 1.02. Boingo Wireless has a 1-year low of $8.85 and a 1-year high of $26.07. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.93 and a quick ratio of 0.93.
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 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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