BidaskClub upgraded shares of Ubiquiti Networks (NASDAQ:UBNT) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.
Several other research analysts have also issued reports on UBNT. Zacks Investment Research lowered shares of Ubiquiti Networks from a buy rating to a hold rating in a research report on Sunday, July 15th. Credit Suisse Group set a $73.00 target price on shares of Ubiquiti Networks and gave the stock a hold rating in a research report on Wednesday, July 18th. ValuEngine lowered shares of Ubiquiti Networks from a strong-buy rating to a buy rating in a research report on Thursday, July 26th. BMO Capital Markets reiterated a hold rating on shares of Ubiquiti Networks in a research report on Friday, August 24th. Finally, Bank of America upped their target price on shares of Ubiquiti Networks from $52.50 to $62.00 and gave the stock an underperform rating in a research report on Monday, October 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Ubiquiti Networks currently has a consensus rating of Buy and an average price target of $75.62.
Shares of NASDAQ:UBNT opened at $90.36 on Friday. Ubiquiti Networks has a 52-week low of $49.40 and a 52-week high of $101.33. The firm has a market capitalization of $6.73 billion, a P/E ratio of 24.69, a P/E/G ratio of 1.95 and a beta of 1.11. The company has a quick ratio of 7.96, a current ratio of 8.87 and a debt-to-equity ratio of 1.46.
Ubiquiti Networks (NASDAQ:UBNT) last announced its earnings results on Friday, August 24th. The Wireless communications provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. Ubiquiti Networks had a net margin of 19.30% and a return on equity of 69.24%. The company had revenue of $269.80 million during the quarter, compared to analyst estimates of $256.03 million. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. Sell-side analysts predict that Ubiquiti Networks will post 3.4 EPS for the current year.
In other Ubiquiti Networks news, VP Benjamin Moore sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $87.91, for a total transaction of $8,791,000.00. Following the completion of the sale, the vice president now directly owns 673,206 shares in the company, valued at $59,181,539.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 78.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Guggenheim Capital LLC boosted its position in Ubiquiti Networks by 3.4% during the first quarter. Guggenheim Capital LLC now owns 19,835 shares of the Wireless communications provider’s stock valued at $1,364,000 after buying an additional 645 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Ubiquiti Networks by 48.6% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,182 shares of the Wireless communications provider’s stock valued at $185,000 after buying an additional 714 shares during the period. Sheets Smith Wealth Management boosted its position in Ubiquiti Networks by 15.9% during the second quarter. Sheets Smith Wealth Management now owns 5,321 shares of the Wireless communications provider’s stock valued at $451,000 after buying an additional 730 shares during the period. Xact Kapitalforvaltning AB boosted its position in Ubiquiti Networks by 28.0% during the first quarter. Xact Kapitalforvaltning AB now owns 3,658 shares of the Wireless communications provider’s stock valued at $252,000 after buying an additional 800 shares during the period. Finally, Sei Investments Co. boosted its position in Ubiquiti Networks by 0.5% during the second quarter. Sei Investments Co. now owns 208,321 shares of the Wireless communications provider’s stock valued at $17,648,000 after buying an additional 979 shares during the period. Institutional investors and hedge funds own 27.13% of the company’s stock.
Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. 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 WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.
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