Deutsche Bank AG Raises Ubiquiti Networks, Inc. (NASDAQ:UBNT) Price Target to $44.00
Ubiquiti Networks, Inc. (NASDAQ:UBNT) had its target price boosted by analysts at Deutsche Bank AG from $40.00 to $44.00 in a report released on Monday. The firm presently has a “hold” rating on the Wireless communications provider’s stock. Deutsche Bank AG’s price objective would indicate a potential downside of 32.44% from the company’s previous close.
UBNT has been the topic of a number of other reports. ValuEngine lowered Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday. Vetr raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $58.36 price target on the stock in a report on Wednesday, August 2nd. BidaskClub lowered Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Credit Suisse Group reissued a “sell” rating and set a $54.00 price target on shares of Ubiquiti Networks in a report on Friday. Finally, Zacks Investment Research cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.56.
Ubiquiti Networks (UBNT) traded up 0.12% during midday trading on Monday, hitting $65.21. 332,599 shares of the company traded hands. The stock has a market cap of $5.23 billion, a P/E ratio of 21.44 and a beta of 0.48. The stock has a 50 day moving average of $51.65 and a 200 day moving average of $51.71. Ubiquiti Networks has a 12-month low of $43.56 and a 12-month high of $66.00.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. Ubiquiti Networks had a return on equity of 47.10% and a net margin of 29.76%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Equities research analysts predict that Ubiquiti Networks will post $3.64 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in shares of Ubiquiti Networks during the first quarter valued at $113,000. Pacer Advisors Inc. boosted 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. SG Americas Securities LLC purchased a new position in shares of Ubiquiti Networks during the second quarter valued at $144,000. Lazard Asset Management LLC boosted 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. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Ubiquiti Networks during the first quarter valued at $218,000. 30.95% of the stock is owned by institutional investors and hedge funds.
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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