Traders Buy Large Volume of Ubiquiti Networks Call Options (UBNT)
Shares of Ubiquiti Networks (NASDAQ:UBNT) saw some unusual options trading activity on Thursday. Stock traders acquired 2,343 call options on the stock, Analyst Ratings Network.com reports. This represents an increase of approximately 189% compared to the typical volume of 811 call options.
A number of research firms have recently commented on UBNT. Analysts at Raymond James upgraded shares of Ubiquiti Networks from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. They now have a $50.00 price target on the stock, up previously from $31.57. They noted that the move was a valuation call. Separately, analysts at Macquarie cut their price target on shares of Ubiquiti Networks from $65.00 to $55.00 in a research note on Friday, May 9th. Finally, analysts at Deutsche Bank cut their price target on shares of Ubiquiti Networks from $42.00 to $35.00 in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.20.
Shares of Ubiquiti Networks (NASDAQ:UBNT) traded up 0.08% during mid-day trading on Thursday, hitting $39.32. The stock had a trading volume of 1,374,131 shares. Ubiquiti Networks has a 52 week low of $20.71 and a 52 week high of $56.85. The stock has a 50-day moving average of $41. and a 200-day moving average of $42.38. The company has a market cap of $3.464 billion and a price-to-earnings ratio of 22.55.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.05. The company had revenue of $156.00 million for the quarter, compared to the consensus estimate of $151.03 million. During the same quarter last year, the company posted $0.33 earnings per share. Ubiquiti Networks’s revenue was up 54.2% compared to the same quarter last year. Analysts expect that Ubiquiti Networks will post $1.95 EPS for the current fiscal year.
Ubiquiti Networks, Inc (NASDAQ:UBNT) is a communications technology Company.
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