WIFI Stock Leads With Wi-Fi Hotspots
Imagine life without mobile phones.
Difficult, but possible. As display technologies advance and computing powers grow, we could totally shift to more advanced gadgets in the future.
Now imagine life without connectivity!
Not being able to chat with your friends on the go, not being able to book seats in your favorite restaurant, not being able to buy tickets to your favorite show…
Nobody wants to get stuck in a place with poor or no connectivity. That’s why what companies like Boingo Wireless Inc (NASDAQ:WIFI) are doing is so important. Boingo wants to provide better connectivity to consumers in every nook and cranny of the country and beyond.
Boingo Wireless provides mobile Internet access for a variety of consumer devices.
The company has more than one million hotspots that keep consumers connected around the world. The company’s “Passpoint” is the answer to seamless and secure Wi-Fi so you don’t have to find a Wi-Fi network and connect to an app every time you change locations.
If you have the “Boingo Wi-Finder” app, you can connect to more than a million hotspots with a single click. You don’t have to go through a difficult and time-consuming process when you want to get connected at malls, hotels, or airports.
One of Boingo’s technologies is used by carriers to provide cellular service inside buildings, thereby tackling the problem of poor coverage in closed spaces.
The rising number of Internet users should keep the market growing for many years and push Boingo Wireless stock higher.
A report by MarketsandMarkets Research Private Ltd. forecasts the Wi-Fi Hotspot market to reach around $3.3 billion by 2020, from $1.5 billion in 2015. (Source: “Wi-Fi Hotspot Market worth $3,325 Million by 2020,” MarketsandMarkets Research Private Ltd., last accessed May 14, 2015.)
The report also mentions that North America is likely to be the largest Wi-Fi Hotspot market in terms of revenue.
This trend is clear from the strong results posted by the Boingo.
For the first quarter of fiscal 2018, revenue grew by 31.2% year-over-year to reach $58.2 million. This was the company’s 14th consecutive quarter of double-digit revenue growth. (Source: “Boingo Wireless Reports Record First Quarter 2018 Financial Results,” Boingo Wireless Inc, May 3, 2018.)
Boingo has signed agreements with Tier 1 carriers representing 61 carrier contracts. The company works with AT&T Inc. (NYSE:T), Sprint Corp (NYSE:S), T-Mobile Us Inc (NASDAQ:TMUS), and Verizon Communications Inc. (NYSE:VZ) to provide retail locations with better connectivity.
Boingo enables connectivity to the wireless Internet anywhere and with any device. In a world where our phones, tablets, wearables, and even refrigerators connect wirelessly to the Web, the value provided by the company is huge.
And this is reflected clearly in the growth in WIFI stock.
Boingo Wireless stock has gone up by more than 190% over the last five years. The journey has not been that smooth, but the company’s management team is focused, and its execution has been strong.
Chart courtesy of StockCharts.com
Boingo Wireless was voted as the best in Wi-Fi service by the readers of Global Traveler for the eighth year in a row. (Source: “Boingo Wins its Eighth Global Traveler Award for ‘Best WiFi Service’,” Boingo Wireless Inc, December 7, 2017.)
As Dawn Callahan, chief marketing officer, correctly pointed out, “Wi-Fi is like oxygen for travelers and we’re proud that Boingo is their trusted lifeline for staying connected, whether sending selfies, working remotely or binge-watching their favorite show.”
Boingo Wireless is the leading Wi-Fi company in the world,and this growth is expected to continue. Investors may want to consider WIFI stock for the long term.