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Ubiquiti Networks (NASDAQ:UBNT) was downgraded by Wedbush from an “outperform” rating to a “neutral” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. They currently have a $41.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 30.66% from the stock’s previous close.

Ubiquiti Networks (NASDAQ:UBNT) traded down 24.15% on Friday, hitting $31.38. The stock had a trading volume of 10,037,465 shares. Ubiquiti Networks has a one year low of $15.01 and a one year high of $56.85. The stock has a 50-day moving average of $41.63 and a 200-day moving average of $43.24. The company has a market cap of $2.755 billion and a P/E ratio of 28.07. Ubiquiti Networks also saw unusually large options trading activity on Friday. Stock investors acquired 6,598 put options on the company. This is an increase of approximately 488% compared to the average daily volume of 1,123 put options.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The company had revenue of $148.30 million for the quarter, compared to the consensus estimate of $141.92 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 78.2% on a year-over-year basis. On average, analysts predict that Ubiquiti Networks will post $1.95 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on UBNT. Analysts at Zacks downgraded shares of Ubiquiti Networks from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 9th. They now have a $46.60 price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Ubiquiti Networks in a research note on Thursday, March 27th. They now have a $65.00 price target on the stock. Finally, analysts at Macquarie initiated coverage on shares of Ubiquiti Networks in a research note on Thursday, March 20th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Ubiquiti Networks presently has an average rating of “Hold” and an average price target of $45.55.

Ubiquiti Networks, Inc (NASDAQ:UBNT) is a communications technology Company.

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