Lake Street Initiates Coverage on Boingo Wireless Inc to Buy

Lake Street Initiates Coverage on Boingo Wireless Inc(NASDAQ:WIFI). The shares have been rated Buy. The rating by Lake Street was issued on Jun 20, 2016.

Boingo Wireless Inc (WIFI) shares turned negative on Fridays trading session with the shares closing down -0.15 points or -1.71% at a volume of 4,34,856. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.76. The peak price level was also seen at $8.76 while the days lowest was $8.35. Finally the shares closed at $8.62. The 52-week high of the shares is $10.42 while the 52-week low is $5.4. According to the latest information available, the market cap of the company is $326 M.

Boingo Wireless Inc(WIFI) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $34.50M. Analysts had an estimated revenue of $33.55M. Earnings per share were $-0.27. Analysts had estimated an EPS of $-0.27.

Several Insider Transactions has been reported to the SEC. On Apr 20, 2016, David Hagan (Chief Executive Officer) sold 35,000 shares at $7.63 per share price.Also, On Apr 13, 2016, Tom Tracey (Senior VP of Operations) sold 3,750 shares at $7.60 per share price.On Sep 16, 2015, Peter Hovenier (Chief Financial Officer) sold 10,000 shares at $7.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Boingo Wireless Inc. is a provider of commercial mobile Wi-Fi Internet solutions and indoor direct-attached storage (DAS) services for carriers. The Company is a service provider of mobile Internet solutions across its managed and operated network and aggregated network for mobile devices such as laptops smartphones tablet computers and other wireless-enabled devices. It enables individuals to purchase Internet access at its managed and operated hotspots and select partner locations across the world. The Company offers its telecom operator partners access to its DAS infrastructure managed and operated hotspot locations. Its hardware and software platform allows it to provide a range of value-added services to network operators enterprise software and services companies and venue operators. The Company offers Boingo software client which is installed on Wi-Fi enabled devices such as smartphones laptops and tablet computers to enable customers to access its network.

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