Price Action To Observe: What’s Next for Boingo Wireless Inc After Touching 52-Week High?

Price Action To Observe: What's Next for Boingo Wireless Inc After Touching 52 Week High?

The stock of Boingo Wireless Inc (NASDAQ:WIFI) hit a new 52-week high and has $19.15 target or 85.00% above today’s $10.35 share price. The 8 months bullish chart indicates low risk for the $401.75M company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $19.15 price target is reached, the company will be worth $341.49M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 250,829 shares traded hands or 46.19% up from the average. Boingo Wireless Inc (NASDAQ:WIFI) has risen 45.02% since February 26, 2016 and is uptrending. It has outperformed by 34.60% the S&P500.

Analysts await Boingo Wireless Inc (NASDAQ:WIFI) to report earnings on November, 3. They expect $-0.17 earnings per share, down 30.77% or $0.04 from last year’s $-0.13 per share. After $-0.19 actual earnings per share reported by Boingo Wireless Inc for the previous quarter, Wall Street now forecasts -10.53% EPS growth.

Boingo Wireless Inc (NASDAQ:WIFI) Ratings Coverage

Out of 6 analysts covering Boingo Wireless (NASDAQ:WIFI), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. Boingo Wireless has been the topic of 8 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Sell” rating on Monday, July 11 by BTIG Research. As per Monday, August 10, the company rating was maintained by DA Davidson. Lake Street initiated Boingo Wireless Inc (NASDAQ:WIFI) rating on Monday, June 20. Lake Street has “Buy” rating and $12 price target. The rating was initiated by Craig Hallum with “Buy” on Tuesday, July 21. Zacks upgraded Boingo Wireless Inc (NASDAQ:WIFI) on Tuesday, September 22 to “Hold” rating.

According to Zacks Investment Research, “Boingo Wireless, Inc. is a Wi-Fi software and services provider. Boingo users can access the mobile Internet via Boingo Network locations that include the airports, hotel chains, cafés and coffee shops, restaurants, convention centers and metropolitan hot zones. The company provides its solutions to individual users and partners consisting of telecom operators, network operators, cable companies, technology companies, enterprise software and services companies, and communications companies. Boingo Wireless, Inc. is headquartered in Los Angeles, California.”

Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.66, from 1.66 in 2016Q1. The ratio fall, as 15 funds sold all Boingo Wireless Inc shares owned while 31 reduced positions. 9 funds bought stakes while 37 increased positions. They now own 29.97 million shares or 12.07% less from 34.08 million shares in 2016Q1.
Invesco accumulated 50,126 shares or 0% of the stock. Cardinal Cap Management Ltd Com Ct accumulated 0.47% or 1.06M shares. Swiss Financial Bank holds 66,750 shares or 0% of its portfolio. Falcon Point Capital Lc has invested 0.41% of its portfolio in Boingo Wireless Inc (NASDAQ:WIFI). Voya Inv Mgmt Ltd Company has invested 0% of its portfolio in Boingo Wireless Inc (NASDAQ:WIFI). Gilder Gagnon Howe & Ltd Limited Liability Company has 0.45% invested in the company for 2.52M shares. The Washington-based Parametric Port Assoc Ltd Liability has invested 0% in Boingo Wireless Inc (NASDAQ:WIFI). Columbia Wanger Asset Ltd Limited Liability Company accumulated 2.80 million shares or 0.29% of the stock. Credit Suisse Ag accumulated 21,993 shares or 0% of the stock. Schroder Group accumulated 0% or 22,309 shares. Dimensional Fund Advsrs Lp last reported 0.01% of its portfolio in the stock. Timpani Cap Mngmt Ltd Llc holds 192,997 shares or 0.73% of its portfolio. The New York-based Moab Lc has invested 0.11% in Boingo Wireless Inc (NASDAQ:WIFI). Paw Cap accumulated 300,000 shares or 3.06% of the stock. White Pine Limited Liability Company last reported 1.14% of its portfolio in the stock.

Insider Transactions: Since April 11, 2016, the stock had 0 buys, and 3 insider sales for $327,200 net activity. Tracey Tom also sold $28,500 worth of Boingo Wireless Inc (NASDAQ:WIFI) shares. Hagan David sold 35,000 shares worth $267,050.

More recent Boingo Wireless Inc (NASDAQ:WIFI) news were published by: Marketwatch.com which released: “Boingo Wireless started at sell with $6.85 stock price target at BTIG” on February 08, 2011. Also Quotes.Wsj.com published the news titled: “News Boingo Wireless Inc.WIFI” on April 29, 2011. Benzinga.com‘s news article titled: “Buy FedEx, Sell 20-Year Bonds: Fast Money Picks For September 29” with publication date: September 29, 2016 was also an interesting one.

WIFI Company Profile

Boingo Wireless, Inc., incorporated on April 16, 2001, is a well-known provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services for carriers. The Firm operates as a service well-known 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. The Firm has established wireless networks that provide high-speed, high-bandwidth wireless connectivity to smartphones, tablets, laptops, wearables, the Internet of Things (IoT) and other wireless-enabled devices. The Company’s wireless networks include DAS, femto-cell, and Wi-Fi networks that it manages and operates, which it refers to as managed and operated locations, as well as Wi-Fi networks managed and operated by third-parties with whom it contract for access (roaming networks). The Company’s managed and operated locations are typically located in large venues with big audiences, such as airports, stadiums, arenas, military bases, universities, big box retailers, convention centers and office buildings. It installs wireless network infrastructure in these locations, which generally have exclusive multi-year agreements, and then monetize these networks in a number of ways. It also sells advertising on other Wi-Fi networks that are not part of its network on behalf of the network owner. The Company’s services include DAS or Femto-Cell, Wholesale-Wi-Fi, Retail, Military and Advertising.

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