Ubiquiti Networks, Inc. (UBNT) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) from a buy rating to a strong-buy rating in a report released on Tuesday, August 8th.

Other research analysts have also issued reports about the stock. Vetr lowered shares of Ubiquiti Networks from a strong-buy rating to a buy rating and set a $55.50 price target on the stock. in a research note on Monday, June 5th. Zacks Investment Research raised shares of Ubiquiti Networks from a hold rating to a buy rating and set a $52.00 price target on the stock in a research note on Wednesday, May 10th. Deutsche Bank AG raised their price target on shares of Ubiquiti Networks from $38.00 to $40.00 and gave the company a hold rating in a research note on Monday, May 8th. ValuEngine lowered shares of Ubiquiti Networks from a buy rating to a hold rating in a research note on Thursday, August 3rd. Finally, Credit Suisse Group reaffirmed a sell rating and issued a $54.00 price target on shares of Ubiquiti Networks in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Ubiquiti Networks has a consensus rating of Hold and a consensus target price of $54.87.

Shares of Ubiquiti Networks (NASDAQ UBNT) traded up 0.89% during trading on Tuesday, hitting $65.94. The stock had a trading volume of 240,507 shares. Ubiquiti Networks has a 12-month low of $45.71 and a 12-month high of $67.80. The firm has a market cap of $5.29 billion, a P/E ratio of 21.34 and a beta of 0.48. The firm has a 50 day moving average price of $56.94 and a 200 day moving average price of $52.26.

Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 47.10%. The business had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. During the same period in the prior year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, equities analysts expect that Ubiquiti Networks will post $3.66 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Ubiquiti Networks by 4.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after buying an additional 80 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Ubiquiti Networks during the first quarter worth $113,000. Pacer Advisors Inc. raised its position in Ubiquiti Networks by 22.2% in the first quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock worth $136,000 after buying an additional 490 shares during the period. SG Americas Securities LLC acquired a new position in Ubiquiti Networks during the second quarter worth $144,000. Finally, Lazard Asset Management LLC raised its position in Ubiquiti Networks by 26.0% in the first quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock worth $185,000 after buying an additional 760 shares during the period. 30.91% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Networks Company Profile

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

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