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.

COPYRIGHT VIOLATION NOTICE: “Ubiquiti Networks, Inc. (NASDAQ:UBNT) Upgraded to “Strong-Buy” by BidaskClub” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/08/08/ubiquiti-networks-inc-nasdaqubnt-upgraded-to-strong-buy-by-bidaskclub.html.

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.

Analyst Recommendations for Ubiquiti Networks (NASDAQ:UBNT)

Receive News & Ratings for Ubiquiti Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.