Boingo Wireless (WIFI - Free Report) closed at $11.39 in the latest trading session, marking a -1.47% move from the prior day. This change lagged the S&P 500's daily gain of 1.5%. At the same time, the Dow added 1.44%, and the tech-heavy Nasdaq gained 2.1%.
Prior to today's trading, shares of the provider of Wi-Fi hotspots in airports and other public places had gained 12.56% over the past month. This has outpaced the Computer and Technology sector's gain of 3.43% and the S&P 500's gain of 0.54% in that time.
Wall Street will be looking for positivity from WIFI as it approaches its next earnings report date. On that day, WIFI is projected to report earnings of -$0.12 per share, which would represent a year-over-year decline of 1300%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $69.68 million, up 2.76% from the year-ago period.
Investors should also note any recent changes to analyst estimates for WIFI. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. WIFI is currently a Zacks Rank #1 (Strong Buy).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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