Ubiquiti Networks, Inc. (UBNT) Receives Average Recommendation of “Hold” from Analysts
Ubiquiti Networks, Inc. (NASDAQ:UBNT) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $55.59.
A number of research analysts recently issued reports on UBNT shares. BidaskClub raised Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Vetr lowered Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 target price on the stock. in a report on Monday, June 26th. Zacks Investment Research raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, May 10th. Deutsche Bank AG lifted their target price on Ubiquiti Networks from $38.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 8th. Finally, ValuEngine lowered Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Ubiquiti Networks by 11,607.1% in the first quarter. BlackRock Inc. now owns 1,965,976 shares of the Wireless communications provider’s stock worth $98,810,000 after buying an additional 1,949,183 shares during the period. Jackson Square Partners LLC bought a new position in Ubiquiti Networks during the second quarter worth $56,496,000. EdgePoint Investment Group Inc. raised its position in Ubiquiti Networks by 10.0% in the second quarter. EdgePoint Investment Group Inc. now owns 6,325,182 shares of the Wireless communications provider’s stock worth $328,720,000 after buying an additional 575,640 shares during the period. Disciplined Growth Investors Inc. MN raised its position in Ubiquiti Networks by 34.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,616,027 shares of the Wireless communications provider’s stock worth $83,985,000 after buying an additional 413,560 shares during the period. Finally, Sei Investments Co. bought a new position in Ubiquiti Networks during the second quarter worth $13,724,000. Institutional investors and hedge funds own 30.91% of the company’s stock.
Ubiquiti Networks (NASDAQ:UBNT) traded up 0.89% during trading on Friday, hitting $65.94. 240,507 shares of the stock were exchanged. The stock’s 50 day moving average is $56.53 and its 200-day moving average is $52.24. Ubiquiti Networks has a one year low of $45.71 and a one year high of $67.80. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 21.34 and a beta of 0.48.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The firm 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%. Ubiquiti Networks’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. On average, equities research analysts expect that Ubiquiti Networks will post $3.66 earnings per share 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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