Ubiquiti (NYSE:UI) Rating Increased to Buy at Wall Street Zen

Ubiquiti (NYSE:UI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

UI has been the topic of a number of other reports. Zacks Research upgraded shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Ubiquiti in a research note on Monday, December 29th. BWS Financial reiterated a “buy” rating and issued a $720.00 target price on shares of Ubiquiti in a research note on Thursday, January 15th. Finally, Barclays set a $527.00 price target on Ubiquiti and gave the stock an “underweight” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $615.67.

Ubiquiti Stock Performance

NYSE:UI opened at $620.89 on Friday. Ubiquiti has a 52-week low of $255.00 and a 52-week high of $803.59. The company has a market cap of $37.56 billion, a P/E ratio of 47.47 and a beta of 1.40. The stock’s 50-day simple moving average is $563.82 and its 200 day simple moving average is $579.10.

Ubiquiti (NYSE:UI) last posted its quarterly earnings results on Friday, February 6th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.80. The firm had revenue of $814.87 million during the quarter, compared to the consensus estimate of $716.95 million. Ubiquiti had a return on equity of 132.71% and a net margin of 28.72%.The business’s revenue was up 35.8% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. As a group, equities analysts predict that Ubiquiti will post 7.21 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Kevin Radigan sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $576.58, for a total transaction of $201,803.00. Following the transaction, the chief accounting officer directly owned 2,768 shares of the company’s stock, valued at approximately $1,595,973.44. This trade represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 93.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ubiquiti

Several institutional investors have recently made changes to their positions in UI. Goldman Sachs Group Inc. increased its stake in Ubiquiti by 33.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 33,836 shares of the company’s stock worth $10,494,000 after acquiring an additional 8,551 shares during the period. Woodline Partners LP grew its holdings in shares of Ubiquiti by 22.1% during the 1st quarter. Woodline Partners LP now owns 1,214 shares of the company’s stock worth $377,000 after purchasing an additional 220 shares in the last quarter. Jane Street Group LLC increased its position in shares of Ubiquiti by 12.9% in the first quarter. Jane Street Group LLC now owns 13,768 shares of the company’s stock worth $4,270,000 after purchasing an additional 1,570 shares during the period. Truist Financial Corp raised its stake in Ubiquiti by 16.6% in the second quarter. Truist Financial Corp now owns 1,472 shares of the company’s stock valued at $606,000 after purchasing an additional 210 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Ubiquiti by 72.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,317 shares of the company’s stock valued at $543,000 after purchasing an additional 555 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.

Ubiquiti Company Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi‑Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well‑known lines—most notably UniFi for managed LAN/Wi‑Fi and networked video, AmpliFi for consumer Wi‑Fi, and product families targeting service‑provider and point‑to‑point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud‑enabled control as core features of its platform approach.