Ubiquiti Networks (UBNT) Given a $79.00 Price Target by Credit Suisse Group Analysts

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Credit Suisse Group set a $79.00 target price on Ubiquiti Networks (NASDAQ:UBNT) in a research note published on Monday morning, MarketBeat.com reports. The brokerage currently has a hold rating on the Wireless communications provider’s stock.

UBNT has been the subject of a number of other reports. BMO Capital Markets reissued a hold rating on shares of Ubiquiti Networks in a research report on Friday, August 24th. Zacks Investment Research downgraded Ubiquiti Networks from a buy rating to a hold rating in a research report on Sunday, July 15th. BidaskClub raised Ubiquiti Networks from a hold rating to a buy rating in a research report on Thursday, August 23rd. TheStreet raised Ubiquiti Networks from a c+ rating to a b+ rating in a research report on Wednesday, May 23rd. Finally, ValuEngine downgraded Ubiquiti Networks from a strong-buy rating to a buy rating in a research report on Thursday, July 26th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $74.15.

Shares of NASDAQ:UBNT opened at $86.11 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 6.69 and a quick ratio of 6.08. The stock has a market cap of $6.15 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 1.32 and a beta of 0.55. Ubiquiti Networks has a 12-month low of $47.78 and a 12-month high of $90.37.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Friday, August 24th. The Wireless communications provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $269.80 million during the quarter, compared to the consensus estimate of $256.03 million. Ubiquiti Networks had a return on equity of 64.32% and a net margin of 19.30%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. sell-side analysts forecast that Ubiquiti Networks will post 3.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Tuesday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, August 31st.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Guggenheim Capital LLC grew its position in Ubiquiti Networks by 3.4% in the 1st quarter. Guggenheim Capital LLC now owns 19,835 shares of the Wireless communications provider’s stock valued at $1,364,000 after acquiring an additional 645 shares in the last quarter. Stifel Financial Corp grew its position in Ubiquiti Networks by 1.2% in the 1st quarter. Stifel Financial Corp now owns 59,347 shares of the Wireless communications provider’s stock valued at $4,087,000 after acquiring an additional 700 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in Ubiquiti Networks by 48.6% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,182 shares of the Wireless communications provider’s stock valued at $185,000 after acquiring an additional 714 shares in the last quarter. Sheets Smith Wealth Management grew its position in Ubiquiti Networks by 15.9% in the 2nd quarter. Sheets Smith Wealth Management now owns 5,321 shares of the Wireless communications provider’s stock valued at $451,000 after acquiring an additional 730 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in Ubiquiti Networks by 28.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 3,658 shares of the Wireless communications provider’s stock valued at $252,000 after acquiring an additional 800 shares in the last quarter. 26.03% of the stock is owned by institutional investors.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other complimentary WLAN products.

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