Ubiquiti’s (UI) “Buy” Rating Reiterated 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 presently have a $980.00 price target on the stock. BWS Financial’s price target would indicate a potential upside of 75.16% from the company’s previous close.

A number of other research firms also recently issued reports on UI. Weiss Ratings downgraded Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Barclays cut their price objective on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company in a report on Monday, August 24th. Finally, Zacks Research raised shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $734.50.

Ubiquiti Price Performance

NYSE:UI traded up $6.11 during trading hours on Tuesday, reaching $559.48. 37,150 shares of the stock were exchanged, compared to its average volume of 120,852. Ubiquiti has a twelve month low of $500.23 and a twelve month high of $1,099.99. The stock has a market cap of $33.87 billion, a PE ratio of 35.32 and a beta of 1.31. The firm has a 50 day moving average of $566.56 and a 200 day moving average of $664.70.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, August 21st. The company reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.70. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. The business had revenue of $937.32 million during the quarter, compared to the consensus estimate of $850.50 million. During the same quarter last year, the firm earned $4.41 earnings per share. Equities research analysts anticipate that Ubiquiti will post 16.94 earnings per share for the current year.

Hedge Funds Weigh In On Ubiquiti

Several hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC acquired a new stake in Ubiquiti during the 2nd quarter worth approximately $556,000. Engineers Gate Manager LP bought a new stake in shares of Ubiquiti during the 2nd quarter worth $2,006,000. IFP Advisors Inc raised its position in Ubiquiti by 125.5% during the second quarter. IFP Advisors Inc now owns 442 shares of the company’s stock valued at $236,000 after purchasing an additional 246 shares in the last quarter. Corient Private Wealth LP raised its holdings in shares of Ubiquiti by 11.1% during the 2nd quarter. Corient Private Wealth LP now owns 5,819 shares of the company’s stock valued at $3,108,000 after buying an additional 583 shares in the last quarter. Finally, Amundi lifted its stake in Ubiquiti by 88.5% in the second quarter. Amundi now owns 2,155 shares of the company’s stock worth $1,151,000 after purchasing an additional 1,012 shares during the last quarter. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Company Profile

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.