BWS Financial Reaffirms Buy Rating for Ubiquiti (NYSE:UI)

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

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

Ubiquiti Price Performance

Shares of Ubiquiti stock traded up $5.58 during trading on Tuesday, hitting $558.95. The stock had a trading volume of 60,956 shares, compared to its average volume of 120,948. The business has a fifty day moving average of $566.56 and a two-hundred day moving average of $664.70. The firm has a market cap of $33.83 billion, a P/E ratio of 35.26 and a beta of 1.31. Ubiquiti has a fifty-two week low of $500.23 and a fifty-two week high of $1,099.99.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Diversify Advisory Services LLC acquired a new stake in Ubiquiti during the second quarter worth about $1,526,000. Bank of America Corp DE grew its holdings in shares of Ubiquiti by 22.3% during the 1st quarter. Bank of America Corp DE now owns 13,750 shares of the company’s stock worth $10,867,000 after purchasing an additional 2,508 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Ubiquiti during the 1st quarter worth approximately $1,581,000. Deutsche Bank AG bought a new position in shares of Ubiquiti during the 2nd quarter worth approximately $12,832,000. Finally, Walleye Capital LLC bought a new position in shares of Ubiquiti during the 2nd quarter worth approximately $27,413,000. Institutional investors and hedge funds 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.