Analysts expect that Ubiquiti Networks, Inc. (NASDAQ:UBNT) will announce sales of $224.71 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ubiquiti Networks’ earnings. The lowest sales estimate is $209.19 million and the highest is $240.23 million. Ubiquiti Networks reported sales of $204.76 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The firm is expected to report its next quarterly earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Ubiquiti Networks will report full year sales of $224.71 million for the current year, with estimates ranging from $871.36 million to $1.02 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.02 billion per share, with estimates ranging from $907.57 million to $1.12 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Ubiquiti Networks.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.06. Ubiquiti Networks had a return on equity of 47.10% and a net margin of 29.76%. The firm had revenue of $228.60 million during the quarter, compared to analyst estimates of $219.14 million. During the same period last year, the company earned $0.69 EPS. Ubiquiti Networks’s quarterly revenue was up 23.1% compared to the same quarter last year.

UBNT has been the subject of several research reports. Vetr cut shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 price objective for the company. in a research note on Monday, June 26th. Deutsche Bank AG upped their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Credit Suisse Group reaffirmed a “sell” rating and set a $44.00 price target on shares of Ubiquiti Networks in a research report on Tuesday, May 2nd. Finally, BidaskClub raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $54.87.

Hedge funds have recently made changes to their positions in the company. State of Tennessee Treasury Department boosted its stake in shares of Ubiquiti Networks by 24.2% in the first quarter. State of Tennessee Treasury Department now owns 860,000 shares of the Wireless communications provider’s stock worth $43,224,000 after buying an additional 167,493 shares during the period. Virginia Retirement Systems ET AL boosted its stake in shares of Ubiquiti Networks by 600.0% in the first quarter. Virginia Retirement Systems ET AL now owns 25,200 shares of the Wireless communications provider’s stock worth $1,267,000 after buying an additional 21,600 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Ubiquiti Networks by 14.1% in the first quarter. Parametric Portfolio Associates LLC now owns 35,933 shares of the Wireless communications provider’s stock worth $1,806,000 after buying an additional 4,436 shares during the period. Ramsey Quantitative Systems acquired a new stake in shares of Ubiquiti Networks during the first quarter worth $472,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Ubiquiti Networks by 66.4% in the first quarter. UBS Asset Management Americas Inc. now owns 14,978 shares of the Wireless communications provider’s stock worth $753,000 after buying an additional 5,978 shares during the period. 30.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Ubiquiti Networks (NASDAQ:UBNT) traded down 0.34% during midday trading on Thursday, reaching $64.65. The company’s stock had a trading volume of 556,569 shares. The company has a market capitalization of $5.19 billion, a P/E ratio of 20.92 and a beta of 0.48. Ubiquiti Networks has a one year low of $45.71 and a one year high of $67.80. The stock’s 50-day moving average is $58.67 and its 200-day moving average is $52.35.

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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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