BidaskClub Downgrades Ubiquiti Networks, Inc. (NASDAQ:UBNT) to Hold
Ubiquiti Networks, Inc. (NASDAQ:UBNT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Sunday.
Several other research analysts also recently commented on UBNT. Zacks Investment Research downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Credit Suisse Group reaffirmed a “sell” rating and issued a $44.00 price objective on shares of Ubiquiti Networks in a research note on Tuesday, May 2nd. Deutsche Bank AG raised their price objective on Ubiquiti Networks from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. Finally, Vetr downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 price objective on the stock. in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.75.
Ubiquiti Networks (NASDAQ:UBNT) traded up 0.02% on Friday, reaching $51.33. The company’s stock had a trading volume of 195,160 shares. The stock has a 50-day moving average of $49.29 and a 200-day moving average of $52.62. Ubiquiti Networks has a one year low of $39.30 and a one year high of $64.62. The stock has a market cap of $4.12 billion, a P/E ratio of 16.87 and a beta of 0.47.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings data on Thursday, May 4th. The Wireless communications provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.68 by $0.09. Ubiquiti Networks had a return on equity of 48.86% and a net margin of 30.95%. The firm had revenue of $218.36 million for the quarter, compared to the consensus estimate of $213.63 million. During the same quarter last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. On average, analysts predict that Ubiquiti Networks will post $3.03 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in UBNT. Ameritas Investment Partners Inc. acquired a new stake in Ubiquiti Networks during the first quarter valued at about $113,000. Pacer Advisors Inc. boosted its stake 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 valued at $136,000 after buying an additional 490 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Ubiquiti Networks by 40.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,444 shares of the Wireless communications provider’s stock valued at $199,000 after buying an additional 984 shares in the last quarter. Lazard Asset Management LLC boosted its stake 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 valued at $185,000 after buying an additional 760 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Ubiquiti Networks during the first quarter valued at about $218,000. Hedge funds and other institutional investors own 30.70% of the company’s stock.
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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