Analysts Offer Insights on Technology Companies: Boingo Wireless Inc (NASDAQ: WIFI) and Glu Mobile (NASDAQ: GLUU)

By Jason Carr

Analysts have been eager to weigh in on the Technology sector with new ratings on Boingo Wireless Inc (WIFIResearch Report) and Glu Mobile (GLUUResearch Report).

Boingo Wireless Inc (WIFI)

In a report released today, Greg Gibas from Northland Securities maintained a Buy rating on Boingo Wireless Inc, with a price target of $30. The company’s shares closed yesterday at $14.21, close to its 52-week low of $14.16.

Gibas commented:

“We believe WIFI’s maintained guidance for 2019, substantial DAS backlog, increasing carrier offload usage and solid growth opportunities within the Multi-Family segment will continue to benefit the company going forward. We therefore maintain our OP rating and $30 price target. Key Points WIFI reported Q2:19 revenue and adjusted EBITDA of $68.6M and $21.9M, ahead of our $68.2M and $21.4M estimates, and in-line with guidance of $66-71M and $20-24M, respectively. Overall revenue growth of ~15% YoY was driven by growth in DAS (+26% YoY) revenues. The DAS segment benefited from access fee revenue growth of ~81% YoY, as well as a ~29% increase in DAS nodes deployed (~31.1K nodes are now deployed, with ~24.2K nodes in backlog).”

According to TipRanks.com, Gibas is ranked #4386 out of 5245 analysts.

Currently, the analyst consensus on Boingo Wireless Inc is a Moderate Buy with an average price target of $30.50.

See today’s analyst top recommended stocks >>

Glu Mobile (GLUU)

In a report released yesterday, Darren Aftahi from Roth Capital maintained a Hold rating on Glu Mobile, with a price target of $7. The company’s shares closed yesterday at $7.59.

According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 16.0% and a 51.9% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.

Currently, the analyst consensus on Glu Mobile is a Strong Buy with an average price target of $10.25.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.