Ubiquiti’s (UI) “Buy” Rating Reiterated at BWS Financial

Ubiquiti (NYSE:UI)‘s stock had its “buy” rating reiterated by equities research analysts at BWS Financial in a research note issued on Tuesday, Benzinga reports. They currently have a $980.00 price objective on the stock. BWS Financial’s price target points to a potential upside of 75.33% from the stock’s previous close.

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

Ubiquiti Stock Up 1.0%

Shares of UI stock traded up $5.58 during mid-day trading on Tuesday, hitting $558.95. 81,726 shares of the company’s stock were exchanged, compared to its average volume of 121,093. Ubiquiti has a fifty-two week low of $500.23 and a fifty-two week high of $1,099.99. The stock has a 50-day simple moving average of $566.56 and a two-hundred day simple moving average of $664.70. The stock has a market cap of $33.83 billion, a price-to-earnings ratio of 35.26 and a beta of 1.31.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.70. Ubiquiti had a return on equity of 85.57% and a net margin of 29.33%.The business had revenue of $937.32 million for the quarter, compared to analysts’ expectations of $850.50 million. During the same quarter last year, the firm earned $4.41 earnings per share. As a group, analysts anticipate that Ubiquiti will post 16.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UI. Vision Retirement LLC purchased a new stake in shares of Ubiquiti during the 1st quarter valued at about $25,000. Compass Financial Management LLC purchased a new position in Ubiquiti in the 2nd quarter worth approximately $35,000. Pinnacle Holdings LLC acquired a new stake in Ubiquiti in the second quarter valued at approximately $49,000. Main Street Group LTD acquired a new stake in Ubiquiti in the first quarter valued at approximately $79,000. Finally, Havemeyer Place LP purchased a new stake in shares of Ubiquiti during the fourth quarter valued at approximately $67,000. 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.