Ubiquiti’s (UI) Buy Rating Reaffirmed at BWS Financial

Ubiquiti (NYSE:UI)‘s stock had its “buy” rating reaffirmed by equities researchers at BWS Financial in a note issued to investors on Tuesday, Benzinga reports. They currently have a $980.00 price target on the stock. BWS Financial’s price target suggests a potential upside of 73.22% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 18th. Weiss Ratings downgraded shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Barclays reduced their target price on shares of Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ubiquiti presently has an average rating of “Moderate Buy” and an average target price of $734.50.

Ubiquiti Stock Up 1.2%

Ubiquiti stock traded up $6.44 on Tuesday, hitting $565.76. The company’s stock had a trading volume of 109,506 shares, compared to its average volume of 121,042. The firm has a market cap of $34.24 billion, a P/E ratio of 35.69 and a beta of 1.31. The company has a fifty day moving average price of $567.60 and a 200-day moving average price of $661.93. Ubiquiti has a one year low of $500.23 and a one year high of $1,099.99.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.70. The firm had revenue of $937.32 million for the quarter, compared to analyst estimates of $850.50 million. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. During the same quarter in the previous year, the firm posted $4.41 EPS. Analysts anticipate that Ubiquiti will post 16.94 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UI. Corient Private Wealth LLC lifted its position in Ubiquiti by 73,940.4% during the 4th quarter. Corient Private Wealth LLC now owns 1,113,568 shares of the company’s stock worth $616,193,000 after buying an additional 1,112,064 shares in the last quarter. BlackRock Inc. acquired a new position in Ubiquiti during the 2nd quarter worth about $163,010,000. Bank of New York Mellon Corp acquired a new position in Ubiquiti during the 2nd quarter worth about $30,086,000. Norges Bank acquired a new position in Ubiquiti during the 4th quarter worth about $28,527,000. Finally, Walleye Capital LLC acquired a new position in Ubiquiti during the 2nd quarter valued at about $27,413,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

About Ubiquiti

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers worldwide. The company designs products intended to deliver wireless connectivity, network management, security and other communications capabilities, with an emphasis on scalable and easy-to-deploy solutions.

Its product portfolio includes wireless access points, routers, switches, gateways, broadband wireless equipment, network management software, video surveillance systems, security and access-control products, and smart-home devices.