Ubiquiti Networks, Inc. (NASDAQ:UBNT) Receives $48.10 Consensus PT from Analysts

Ubiquiti Networks, Inc. (NASDAQ:UBNT) has been assigned an average rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $51.47.

A number of research firms have weighed in on UBNT. Credit Suisse Group restated a “sell” rating and set a $54.00 price objective on shares of Ubiquiti Networks in a research report on Friday, August 4th. Deutsche Bank AG upped their price objective on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a report on Monday. BidaskClub raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday. ValuEngine cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Vetr cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating and set a $56.18 price target on the stock. in a research report on Monday, July 31st.

Institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its position in Ubiquiti Networks by 6.1% in the second quarter. UBS Asset Management Americas Inc. now owns 15,894 shares of the Wireless communications provider’s stock worth $826,000 after buying an additional 916 shares during the period. Quantitative Investment Management LLC boosted its stake in Ubiquiti Networks by 86.2% in the second quarter. Quantitative Investment Management LLC now owns 194,600 shares of the Wireless communications provider’s stock worth $10,113,000 after buying an additional 90,100 shares in the last quarter. Kempen Capital Management N.V. boosted its stake in Ubiquiti Networks by 81.7% in the second quarter. Kempen Capital Management N.V. now owns 64,721 shares of the Wireless communications provider’s stock worth $3,364,000 after buying an additional 29,111 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake 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 in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Ubiquiti Networks by 4.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 30.95% of the company’s stock.

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Ubiquiti Networks (NASDAQ UBNT) traded up 1.85% during trading on Monday, hitting $65.58. 169,661 shares of the company’s stock traded hands. Ubiquiti Networks has a 12 month low of $45.71 and a 12 month high of $67.80. The stock has a market cap of $5.26 billion, a P/E ratio of 21.22 and a beta of 0.48. The company’s 50 day moving average is $54.52 and its 200-day moving average is $52.09.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.06. The company had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $219.14 million. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 47.10%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, analysts predict that Ubiquiti Networks will post $3.69 earnings per share for the current 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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