Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) have been given an average recommendation of “Hold” by the eleven analysts that are presently covering the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $40.50.

Several brokerages have recently issued reports on UBNT. JMP Securities upgraded Ubiquiti Networks from an “underperform” rating to a “market perform” rating in a research note on Friday, October 21st. Zacks Investment Research cut Ubiquiti Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 6th. Wunderlich increased their price objective on Ubiquiti Networks from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 4th. Deutsche Bank AG set a $31.00 price objective on Ubiquiti Networks and gave the company a “hold” rating in a research note on Friday, August 5th. Finally, Morgan Stanley set a $28.00 price objective on Ubiquiti Networks and gave the company a “sell” rating in a research note on Friday, August 5th.

In other Ubiquiti Networks news, VP Benjamin Moore sold 150,000 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 758 shares of the company’s stock, valued at $38,809.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 70.34% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Ubiquiti Networks by 234.1% in the third quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the company’s stock valued at $105,000 after buying an additional 1,372 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Ubiquiti Networks by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,115 shares of the company’s stock worth $113,000 after buying an additional 1,108 shares in the last quarter. Pacer Advisors Inc. raised its position in Ubiquiti Networks by 9.1% in the third quarter. Pacer Advisors Inc. now owns 2,148 shares of the company’s stock worth $115,000 after buying an additional 180 shares in the last quarter. Orinda Asset Management LLC bought a new position in Ubiquiti Networks during the third quarter worth about $134,000. Finally, Daiwa Securities Group Inc. bought a new position in Ubiquiti Networks during the third quarter worth about $150,000. 30.29% of the stock is currently owned by institutional investors.

Shares of Ubiquiti Networks (NASDAQ:UBNT) opened at 53.45 on Wednesday. The company has a market cap of $4.37 billion, a P/E ratio of 19.52 and a beta of 1.32. The company has a 50-day moving average price of $52.41 and a 200-day moving average price of $45.70. Ubiquiti Networks has a 52-week low of $25.75 and a 52-week high of $57.74.

Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.10. The business had revenue of $204.80 million for the quarter, compared to analysts’ expectations of $183.58 million. Ubiquiti Networks had a return on equity of 50.98% and a net margin of 32.19%. The company’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. On average, equities analysts predict that Ubiquiti Networks will post $3.05 EPS 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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