Ubiquiti Networks, Inc. (NASDAQ:UBNT) Upgraded to “Strong-Buy” by BidaskClub
Ubiquiti Networks, Inc. (NASDAQ:UBNT) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.
Several other brokerages have also commented on UBNT. Credit Suisse Group restated a “sell” rating and issued a $54.00 price objective on shares of Ubiquiti Networks in a report on Friday. Deutsche Bank AG upped their price objective on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Monday. ValuEngine lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Vetr lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating and set a $56.18 price objective on the stock. in a report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $51.56.
Shares of Ubiquiti Networks (NASDAQ:UBNT) traded up 1.66% on Tuesday, hitting $66.06. 254,419 shares of the company were exchanged. The firm’s 50-day moving average is $51.65 and its 200-day moving average is $51.71. The stock has a market capitalization of $5.30 billion, a PE ratio of 21.72 and a beta of 0.48. Ubiquiti Networks has a 52-week low of $43.56 and a 52-week high of $66.45.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 47.10%. The firm had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. During the same period in the prior year, the business posted $0.69 EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. Equities research analysts predict that Ubiquiti Networks will post $3.64 earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Ubiquiti Networks during the fourth quarter worth about $578,000. Guggenheim Capital LLC raised its stake in Ubiquiti Networks by 40.7% in the fourth quarter. Guggenheim Capital LLC now owns 16,431 shares of the Wireless communications provider’s stock worth $950,000 after buying an additional 4,754 shares during the period. Daiwa SB Investments Ltd. raised its stake in Ubiquiti Networks by 39.4% in the first quarter. Daiwa SB Investments Ltd. now owns 16,725 shares of the Wireless communications provider’s stock worth $841,000 after buying an additional 4,725 shares during the period. Capital Impact Advisors LLC raised its stake in Ubiquiti Networks by 43.5% in the first quarter. Capital Impact Advisors LLC now owns 34,422 shares of the Wireless communications provider’s stock worth $1,730,000 after buying an additional 10,433 shares during the period. Finally, Navellier & Associates Inc raised its stake in Ubiquiti Networks by 57.1% in the first quarter. Navellier & Associates Inc now owns 30,688 shares of the Wireless communications provider’s stock worth $1,542,000 after buying an additional 11,157 shares during the period. Institutional investors own 30.95% of the company’s stock.
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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