$69.91 Million in Sales Expected for Boingo Wireless Inc (NASDAQ:WIFI) This Quarter

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Wall Street brokerages predict that Boingo Wireless Inc (NASDAQ:WIFI) will post sales of $69.91 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Boingo Wireless’ earnings, with the highest sales estimate coming in at $71.00 million and the lowest estimate coming in at $69.30 million. Boingo Wireless posted sales of $67.81 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 26th.

According to Zacks, analysts expect that Boingo Wireless will report full-year sales of $269.67 million for the current year, with estimates ranging from $269.10 million to $270.80 million. For the next year, analysts expect that the firm will report sales of $286.43 million, with estimates ranging from $280.20 million to $292.80 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Boingo Wireless.

Several research firms have commented on WIFI. William Blair reissued a “buy” rating on shares of Boingo Wireless in a research note on Friday, October 11th. Zacks Investment Research cut shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. BidaskClub raised shares of Boingo Wireless from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 7th. Finally, Craig Hallum reissued a “buy” rating and issued a $18.00 target price (down from $22.00) on shares of Boingo Wireless in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Boingo Wireless has a consensus rating of “Buy” and a consensus target price of $22.00.

Several institutional investors have recently added to or reduced their stakes in the company. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Boingo Wireless during the 2nd quarter valued at $10,879,000. Handelsbanken Fonder AB lifted its holdings in Boingo Wireless by 30.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,500,000 shares of the technology company’s stock valued at $27,750,000 after purchasing an additional 578,000 shares during the last quarter. Park West Asset Management LLC lifted its holdings in Boingo Wireless by 99.3% during the 2nd quarter. Park West Asset Management LLC now owns 685,700 shares of the technology company’s stock valued at $12,322,000 after purchasing an additional 341,612 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in Boingo Wireless during the 2nd quarter valued at $4,986,000. Finally, Rice Hall James & Associates LLC lifted its holdings in Boingo Wireless by 17.8% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,678,711 shares of the technology company’s stock valued at $18,634,000 after purchasing an additional 253,761 shares during the last quarter. 98.81% of the stock is currently owned by institutional investors and hedge funds.

Boingo Wireless stock traded down $0.12 during trading hours on Friday, hitting $11.42. 360,350 shares of the company traded hands, compared to its average volume of 404,064. The firm has a market cap of $509.61 million, a P/E ratio of -380.67 and a beta of 1.03. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.87. The firm’s 50-day simple moving average is $11.25 and its two-hundred day simple moving average is $13.76. Boingo Wireless has a 1-year low of $8.85 and a 1-year high of $26.07.

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

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