Ubiquiti Networks, Inc. (NASDAQ:UBNT) Given Consensus Rating of “Hold” by Analysts
Ubiquiti Networks, Inc. (NASDAQ:UBNT) has received an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $48.10.
Several research analysts recently commented on the company. BidaskClub cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Zacks Investment Research cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Deutsche Bank AG boosted their price target on Ubiquiti Networks from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. Vetr cut 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 26th. Finally, Credit Suisse Group reiterated a “sell” rating and issued a $44.00 price target on shares of Ubiquiti Networks in a research note on Tuesday, May 2nd.
Several institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Ubiquiti Networks during the first quarter valued at about $113,000. Pacer Advisors Inc. increased its position in shares of 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. Lazard Asset Management LLC increased its position in shares of 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. Oppenheimer Asset Management Inc. acquired a new position in shares of Ubiquiti Networks during the first quarter valued at about $218,000. Finally, Janus Capital Management LLC increased its position in shares of Ubiquiti Networks by 6.9% in the first quarter. Janus Capital Management LLC now owns 5,837 shares of the Wireless communications provider’s stock valued at $293,000 after buying an additional 375 shares in the last quarter. 30.74% of the stock is owned by institutional investors.
Ubiquiti Networks (NASDAQ UBNT) traded up 0.73% on Monday, hitting $52.62. The stock had a trading volume of 118,395 shares. Ubiquiti Networks has a 12-month low of $41.01 and a 12-month high of $64.62. The firm has a market cap of $4.22 billion, a PE ratio of 17.30 and a beta of 0.47. The company’s 50 day moving average is $50.79 and its 200 day moving average is $52.03.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, May 4th. The Wireless communications provider reported $0.77 EPS for the quarter, topping the Zacks’ 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 company had revenue of $218.36 million for the quarter, compared to analysts’ expectations of $213.63 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 30.4% on a year-over-year basis. On average, equities research analysts expect that Ubiquiti Networks will post $3.03 EPS for the current fiscal year.
About Ubiquiti Networks
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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