Is Boingo Wireless Inc (NASDAQ:WIFI) Good News Actually Bad?

[Capital Cube] Boingo Wireless Inc (NASDAQ:WIFI)(TREND ANALYSIS) share price performance of 20.16% over the last 12 months is above peer median of 7.44%. The 30-day trend in its share price performance of 13.41% is also above the peer median of 2.70% suggesting that this company is a leading performer relative to its peers.

Stock Performance: Click here for a free comprehensive Trend Analysis Report

Boingo Wireless Inc (NASDAQ:WIFI) stock is currently trading 19.39% below its 52-week-high, 34.4% above its 52-week-low. The 1-year stock price history is in the range of $6.25 – $10.42. Boingo Wireless Inc (WIFI) has a price to book ratio of 2.81 versus Technology sector average of 2.44. WIFI stock price has outperformed the Nasdaq by 9.6%. The Internet Connectiv Services company is currently valued at $0.31 billion and its share price closed the last trading session at $8.4. The stock has a 50-day moving average of $8.15 and a 200-day moving average of $8.47.

Boingo Wireless Inc (WIFI) current short interest stands at 3.47 million shares. It has increased by 1% from the same period of last month. Around 11% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.42 million shares, the number of days required to cover the short positions stand at 8.4 days.

The company is expected to announce next quarter earnings on November 05, at consensus estimate of $-0.18. Boingo Wireless Inc (WIFI) reported last quarter earnings on August 06. The Internet Connectiv Services company announced earnings per share of $-0.16 against a consensus Street estimate of $-0.16, matching the average estimate. This corresponds to a decrease of $0.06 compared to the same quarter of the previous fiscal year.

Is this a Buying Opportunity? Click here for a free Trend Analysis Report

There are currently six analysts that cover Boingo Wireless Inc stock. Of those six, six have a Buy rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $12.65.

A recent analyst activity consisted of Craig-Hallum who initiated their coverage on the stock with Buy rating on July 21. Craig-Hallum fixed their price target at $14. This corresponds to a 66.67% upside from the last closing price. On the date of report, the stock closed at $9.72.

Jefferies reiterated their Buy stance on May 8, and increased their price target on WIFI stock from $9 to $10. This corresponds to a 19.05% upside from the last closing price. On the date of report, the stock closed at $8.59.

Another research firm was DA Davidson who reiterated their Buy stance on April 1. DA Davidson increased their price target on Boingo Wireless Inc from $10 to $13. This translates to a 54.76% upside from the last closing price. On the date of report, the stock closed at $7.55.

Company profile

Boingo Wireless, Inc. provides mobile Internet services. The Company’s solution includes software for Wi-Fi enabled devices, such as smart phones, laptops and tablet computers, and its back-end system infrastructure that detects and enables one-click access to its global Wi-Fi network.

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