Market Overview

UPDATE: Jefferies Initiates Boingo Wireless with Hold Following Cloud Nine Media Acquisition

Share:
Related WIFI
Morning Market Gainers
Boingo CEO Weighs In On Partnering With Sprint
Cell Carriers Must Partner With Boingo Wireless As Data Use Increases Exponentially (Seeking Alpha)

In a report published Wednesday, Jefferies analyst Thomas Seitz initiated coverage on Boingo Wireless (NASDAQ: WIFI) with a Hold rating and $6.50 price target.

In the report, Seitz noted, “Although not owned and operated, Boingo has negotiated access to the largest global WiFi footprint – put together via ~670k hotspots in over 100 countries – in the world. We believe Boingo has the potential to become a critical player in the wireless market where data usage is growing exponentially. Over time, we also expect Boingo could benefit from the trend towards location-based advertising/promotions as brick ‘n mortar retailers fight back against the consumer phenomenon of ‘show-rooming.‛ We believe the recent acquisition of Cloud Nine Media would allow Boingo to better monetize its network over the long term.”

Boingo Wireless closed on Tuesday at $6.17.

Latest Ratings for WIFI

DateFirmActionFromTo
Jul 2015Craig-HallumInitiates Coverage onBuy
May 2015JefferiesMaintainsBuy
Apr 2015DA DavidsonMaintainsBuy

View More Analyst Ratings for WIFI
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Initiation Analyst Ratings

 

Related Articles (WIFI)

View Comments and Join the Discussion!

Get Benzinga's Newsletters