Ubiquiti Networks, Inc. (NASDAQ:UBNT) has earned an average rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $58.06.
Several research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Thursday, October 5th. Vetr lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $62.28 price target on the stock. in a research note on Wednesday, October 4th. JMP Securities restated a “market perform” rating on shares of Ubiquiti Networks in a research note on Wednesday, September 27th. BidaskClub upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Finally, Deutsche Bank AG increased their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a research note on Monday, August 7th.
Ubiquiti Networks (UBNT) traded up 1.93% during trading on Friday, hitting $56.12. 345,526 shares of the company traded hands. The firm has a market cap of $4.51 billion, a P/E ratio of 18.16 and a beta of 0.51. The firm has a 50 day moving average of $57.90 and a 200 day moving average of $53.54. Ubiquiti Networks has a one year low of $45.71 and a one year high of $67.80.
Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. During the same quarter in the prior year, the business posted $0.69 EPS. Ubiquiti Networks’s quarterly revenue was up 23.1% on a year-over-year basis. On average, analysts expect that Ubiquiti Networks will post $3.68 earnings per share for the current fiscal year.
Ubiquiti Networks declared that its board has initiated a share repurchase plan on Tuesday, September 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the Wireless communications provider to repurchase up to 18% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, insider Robert J. Pera sold 1,000,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $61.25, for a total value of $61,250,000.00. Following the transaction, the insider now directly owns 56,278,181 shares in the company, valued at approximately $3,447,038,586.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 70.34% of the company’s stock.
A number of large investors have recently bought and sold shares of UBNT. BlackRock Inc. grew its stake in Ubiquiti Networks by 11,607.1% in the 1st quarter. BlackRock Inc. now owns 1,965,976 shares of the Wireless communications provider’s stock valued at $98,810,000 after buying an additional 1,949,183 shares during the last quarter. Jackson Square Partners LLC acquired a new position in Ubiquiti Networks in the 2nd quarter valued at $56,496,000. EdgePoint Investment Group Inc. grew its stake in Ubiquiti Networks by 10.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,325,182 shares of the Wireless communications provider’s stock valued at $328,720,000 after buying an additional 575,640 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Ubiquiti Networks by 34.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,616,027 shares of the Wireless communications provider’s stock valued at $83,985,000 after buying an additional 413,560 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Ubiquiti Networks in the 2nd quarter valued at $13,724,000. Institutional investors and hedge funds own 30.85% of the company’s stock.
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Ubiquiti Networks Company Profile
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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