Ubiquiti Networks (UBNT) PT Raised to $63.00

Ubiquiti Networks (NASDAQ:UBNT) had its target price boosted by BMO Capital Markets from $60.00 to $63.00 in a research note issued to investors on Friday. The firm presently has a “market perform” rating on the Wireless communications provider’s stock. BMO Capital Markets’ target price suggests a potential downside of 9.21% from the stock’s previous close.

A number of other research analysts also recently commented on UBNT. ValuEngine raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. BidaskClub downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Vetr downgraded shares of Ubiquiti Networks from a “hold” rating to a “sell” rating and set a $71.07 target price on the stock. in a research report on Thursday, January 4th. Finally, Deutsche Bank raised their target price on shares of Ubiquiti Networks from $47.00 to $55.00 and gave the company a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company’s stock. Ubiquiti Networks presently has a consensus rating of “Hold” and an average target price of $65.75.

Ubiquiti Networks (NASDAQ:UBNT) traded up $1.93 during midday trading on Friday, reaching $69.39. 569,105 shares of the company’s stock were exchanged, compared to its average volume of 382,466. The stock has a market cap of $5,360.00, a P/E ratio of 38.79, a price-to-earnings-growth ratio of 1.33 and a beta of 0.58. Ubiquiti Networks has a 1-year low of $45.71 and a 1-year high of $82.30.

Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). The business had revenue of $250.80 million for the quarter, compared to analysts’ expectations of $239.89 million. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. analysts expect that Ubiquiti Networks will post 3.08 earnings per share for the current year.

Ubiquiti Networks announced that its board has authorized a share repurchase plan on Thursday, November 9th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the Wireless communications provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado bought a new stake in shares of Ubiquiti Networks in the 4th quarter valued at about $104,000. PNC Financial Services Group Inc. boosted its holdings in shares of Ubiquiti Networks by 4.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after buying an additional 80 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Ubiquiti Networks in the 3rd quarter valued at about $178,000. Aperio Group LLC bought a new stake in shares of Ubiquiti Networks in the 4th quarter valued at about $251,000. Finally, Brown Advisory Inc. bought a new stake in shares of Ubiquiti Networks in the 3rd quarter valued at about $211,000. Institutional investors and hedge funds own 33.48% 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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