In the latest trading session, Boingo Wireless closed at $9.92, marking a +0.61% move from the previous day. This move lagged the S&P 500's daily gain of 3.35%. Elsewhere, the Dow gained 3.19%, while the tech-heavy Nasdaq added 3.62%.
Heading into today, shares of the provider of Wi-Fi hotspots in airports and other public places had lost 21.81% over the past month, lagging the Computer and Technology sector's loss of 12.32% and the S&P 500's loss of 14.37% in that time.
WIFI will be looking to display strength as it nears its next earnings release. On that day, WIFI is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 50%. Our most recent consensus estimate is calling for quarterly revenue of $63.79 million, down 4.03% from the year-ago period.
WIFI's full-year Zacks Consensus Estimates are calling for earnings of -$0.15 per share and revenue of $267.43 million. These results would represent year-over-year changes of +34.78% and +1.38%, respectively.
It is also important to note the recent changes to analyst estimates for WIFI. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 26.6% higher. WIFI currently has a Zacks Rank of #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 42% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.