Analysts Set Ubiquiti Networks Inc. (NASDAQ:UBNT) PT at $37.11
Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) have been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $34.75.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Ubiquiti Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Deutsche Bank AG set a $31.00 price target on Ubiquiti Networks and gave the company a “hold” rating in a research report on Friday, August 5th. Wunderlich increased their price target on Ubiquiti Networks from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Morgan Stanley set a $28.00 price target on Ubiquiti Networks and gave the company a “sell” rating in a research report on Friday, August 5th.
Ubiquiti Networks (NASDAQ:UBNT) opened at 54.20 on Tuesday. The company has a market capitalization of $4.43 billion, a PE ratio of 21.77 and a beta of 1.32. Ubiquiti Networks has a 1-year low of $25.75 and a 1-year high of $54.73. The company has a 50 day moving average of $52.63 and a 200 day moving average of $42.30.
Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Thursday, August 4th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Ubiquiti Networks had a return on equity of 47.65% and a net margin of 32.06%. The company had revenue of $185.70 million for the quarter, compared to analyst estimates of $174.47 million. During the same period in the prior year, the firm earned $0.50 earnings per share. Ubiquiti Networks’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, analysts predict that Ubiquiti Networks will post $2.78 earnings per share for the current fiscal year.
In other news, VP Benjamin Moore sold 150,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $51.20, for a total transaction of $7,680,000.00. Following the completion of the transaction, the vice president now owns 758 shares in the company, valued at approximately $38,809.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 69.08% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teachers Advisors Inc. increased its position in Ubiquiti Networks by 525.9% in the first quarter. Teachers Advisors Inc. now owns 272,587 shares of the company’s stock valued at $9,069,000 after buying an additional 229,034 shares during the last quarter. JPMorgan Chase & Co. increased its position in Ubiquiti Networks by 40.2% in the first quarter. JPMorgan Chase & Co. now owns 286,985 shares of the company’s stock valued at $9,547,000 after buying an additional 82,220 shares during the last quarter. Menta Capital LLC purchased a new position in Ubiquiti Networks during the first quarter valued at $250,000. ING Groep NV purchased a new position in Ubiquiti Networks during the first quarter valued at $844,000. Finally, Kempen Capital Management N.V. increased its position in Ubiquiti Networks by 132.0% in the first quarter. Kempen Capital Management N.V. now owns 9,513 shares of the company’s stock valued at $316,000 after buying an additional 5,413 shares during the last quarter. Institutional investors own 30.22% of the company’s stock.
About Ubiquiti Networks
Ubiquiti Networks, Inc, develops high performance networking technology for service providers and enterprises. The Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. The Company’s technology platforms for enterprises enable wireless local area network (WLAN) infrastructure, video surveillance products, and machine-to-machine communications.
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