Boingo Wireless Inc (WIFI) Received its Third Buy in a Row

By Carrie Williams

After Credit Suisse and Craig-Hallum gave Boingo Wireless Inc (NASDAQ: WIFI) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Timothy Horan assigned a Buy rating to Boingo Wireless Inc today. The company’s shares closed yesterday at $23.53.

According to TipRanks.com, Horan is a top 100 analyst with an average return of 16.2% and a 74.5% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Zayo Group Holdings, and Limelight Networks.

Boingo Wireless Inc has an analyst consensus of Strong Buy, with a price target consensus of $32.75.

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Based on Boingo Wireless Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $416K. In comparison, last year the company had a GAAP net loss of $1.02 million.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WIFI in relation to earlier this year.

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.

Boingo Wireless, Inc. engages in the distribution of wireless connectivity solutions. It offers distributed antenna systems (DAS), Wi-Fi, and small cells. Its hotspot location includes airport; café/retail; convention center; hotel; and other such as schools and universities, office, hospitals, and public places.