Boingo Wireless (WIFI - Free Report) closed the most recent trading day at $8.65, moving +0.23% from the previous trading session. This move outpaced the S&P 500's daily loss of 4.34%. Elsewhere, the Dow lost 4.55%, while the tech-heavy Nasdaq lost 3.79%.
Heading into today, shares of the provider of Wi-Fi hotspots in airports and other public places had lost 41.85% over the past month, lagging the Computer and Technology sector's loss of 27.47% and the S&P 500's loss of 28.78% in that time.
Investors will be hoping for strength from WIFI as it approaches its next earnings release. In that report, analysts expect WIFI to post earnings of -$0.06 per share. This would mark year-over-year growth of 50%. Our most recent consensus estimate is calling for quarterly revenue of $64.34 million, down 3.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.14 per share and revenue of $269.76 million, which would represent changes of +39.13% and +2.26%, respectively, from the prior year.
Any recent changes to analyst estimates for WIFI should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 26.6% higher within the past month. WIFI currently has a Zacks Rank of #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.