Credit Suisse Reaffirms Their Buy Rating on Boingo Wireless (WIFI)

By Carrie Williams

In a report released today, Stephen Ju from Credit Suisse maintained a Buy rating on Boingo Wireless (WIFIResearch Report), with a price target of $20.00. The company’s shares closed last Wednesday at $12.15.

According to TipRanks.com, Ju is a top 100 analyst with an average return of 15.8% and a 67.3% success rate. Ju covers the Technology sector, focusing on stocks such as Endurance International, IAC/InterActiveCorp, and Headhunter Group.

Boingo Wireless has an analyst consensus of Strong Buy, with a price target consensus of $20.50, implying a 57.8% upside from current levels. In a report released today, Northland Securities also maintained a Buy rating on the stock with a $17.00 price target.

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Based on Boingo Wireless’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $64.06 million and GAAP net loss of $5.17 million. In comparison, last year the company earned revenue of $67.81 million and had a net profit of $416K.

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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. The company was founded by Sky Dylan Dayton on April 16, 2001 and is headquartered in Los Angeles, CA.