Ubiquiti Networks’s Outperform Rating Reiterated at Zacks (UBNT)
Ubiquiti Networks (NASDAQ:UBNT)‘s stock had its “outperform” rating reissued by Zacks in a research note issued on Wednesday. They currently have a $55.00 price objective on the stock. Zacks‘s target price points to a potential upside of 20.46% from the stock’s previous close.
Zacks’ analyst wrote, “Ubiquiti Networks is a leading provider of communication networks, telecom services and support solutions. We are reiterating our Outperform recommendation on Ubiquiti Networks with a target price of $55.00. The company reported strong fourth-quarter results with growth across both earnings and revenues. Improved demand for 4G/LTE networks and mobile broadband services has been driving growth this year. In the reported quarter, the company launched several products and added a couple of key distributors for the expansion of its business. Further, the company’s airMAX platform has been performing impressively and its UniFi platform now encompasses the SDN technology which is expected to benefit the company significantly. However, stiff competition and challenging global economic and political conditions limit its profitability to some extent.”
Shares of Ubiquiti Networks (NASDAQ:UBNT) traded down 0.24% during mid-day trading on Wednesday, hitting $45.55. 442,804 shares of the company’s stock traded hands. Ubiquiti Networks has a 52-week low of $28.51 and a 52-week high of $56.85. The stock’s 50-day moving average is $41.37 and its 200-day moving average is $42.4. The company has a market cap of $4.014 billion and a price-to-earnings ratio of 23.18.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 54.2% on a year-over-year basis. Analysts expect that Ubiquiti Networks will post $2.27 EPS for the current fiscal year.
Separately, analysts at BMO Capital Markets raised their price target on shares of Ubiquiti Networks from $51.00 to $55.00 in a research note on Friday, August 8th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Ubiquiti Networks currently has a consensus rating of “Buy” and an average price target of $48.27.
Ubiquiti Networks, Inc (NASDAQ:UBNT) is a communications technology Company.
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