Engulfing Line (Bearish)
|Bid||10.88 x 1100|
|Ask||10.92 x 1200|
|Day's Range||10.78 - 11.02|
|52 Week Range||6.66 - 25.98|
|Beta (5Y Monthly)||1.03|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 05, 2020 - May 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||20.19|
Boingo (WIFI) was founded by Sky Dalton on the premise that Wi-Fi "could help make the Internet as ubiquitous as the air we breathe." In the current climate, the entrepreneur might have phrased his intentions differently. Nonetheless, it was an idea that has proved prophetic, as wireless networks now form the fabric of the modern world.The networking systems specialist has had a hard time in the market over the last twelve months and was struggling even before the coronavirus outbreak. WIFI shed 52.5% of its value in 2019, before dropping another 29% year-to-date. Boingo might be connecting devices but has lost the link between its stock and investors.Further adding to the turmoil, Boingo’s recent earnings results missed both on top and bottom line. Revenue of $64.05 million missed the estimate by $5.69 million and decreased year-over-year by 5.5%. EPS of -$0.12 came below the Street’s call for -$0.11.So, is it all doom and gloom for Boingo? Not according to Oppenheimer’s Timothy Horan. The 5-star analyst recently reiterated an Outperform rating on Boingo along with raising the price target from $15 to $18. Should Horan’s thesis play out, investors could be taking home a very healthy 112% gain. (To watch Horan’s track record, click here)Horan argues that the viral oubreak’s impact on Boingo’s operations is arguable. Even though traffic volume is down at airports and travel centers, where Boingo operates, over 95% of the company’s revenue is contractual. Horan does admit, though, that growth is likely to be impacted.Between periods of Boingo stock dropping down like a hot rock over the last 12 months, the share price has experienced some upward movement on account of talks of a potential takeover. The company received multiple inquiries regarding a potential strategic transaction following Bloomberg News reporting that Boingo is exploring a potential sale.Horan said, “The main focus is on the potential strategic transaction (breakup, takeover?), although Boingo reported weak results. We believe WIFI's neutral wireless infrastructure assets are unique and attractive to various bidders. Management remains focused on its core businesses: DAS, Military/Multifamily, and Wholesale. We continue to see Boingo as a potential takeover target with attractive neutral wireless infrastructure assets that will be utilized more once virus concerns subside.”2 further Buy ratings from the analysts provide the network specialist with a Strong Buy consensus rating. The average price target is even higher than Horan’s and at $20, could potentially yield returns in the shape of 132% in the next twelve months. (See Boingo stock analysis on TipRanks)Read more: * Market Meltdown Presents Some Possibilities, Says Wall Street’s 1 Analyst * Burlington Withdraws Guidance, Shuts Stores Amid Coronavirus Outbreak * GE Healthcare Ramps Up Ventilator Production as Coronavirus Fuels Demand
Shares of Boingo Wireless soared Tuesday even after analysts said the mobile Internet service provider is unlikely to be sold unless the offer is at a much higher level than the stock's recent price range. Bloomberg reported last month that Boingo Wireless was considering a sale. Boingo Wireless said its board was mulling the bids so it said it would suspend earnings guidance.
The Zacks Analyst Blog Highlights: Boingo Wireless, Onespan, Dropbox, Micron Technology and Applied Materials
Boingo (WIFI) delivered earnings and revenue surprises of 0.00% and -8.07%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Boingo Wireless (NASDAQ: WIFI), the leading distributed antenna system ("DAS") and Wi-Fi provider that serves carriers, consumers, property owners and advertisers worldwide, today announced the Company's financial results for the fourth quarter and full year ended December 31, 2019.
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
Boingo (WIFI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Boingo Wireless (NASDAQ: WIFI), the leading DAS and Wi-Fi provider that serves consumers, carriers and advertisers worldwide, announced today that it will report financial results for the fourth quarter and full year ended December 31, 2019, on Monday, March 2, 2020, at approximately 4:05 p.m. Eastern Time.
Boingo Wireless Inc., which provides wireless networks at places such as airports, stadiums and military bases, has laid off 80 employees as part of a cost-cutting plan to realign its core businesses.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in […]