Ubiquiti Networks Inc. (UBNT) Sees Large Volume Increase
Ubiquiti Networks Inc. (NASDAQ:UBNT) saw unusually-strong trading volume on Thursday . Approximately 538,136 shares traded hands during trading, a decline of 5% from the previous session’s volume of 567,773 shares.The stock last traded at $38.02 and had previously closed at $37.70.
UBNT has been the subject of a number of research analyst reports. OTR Global upgraded Ubiquiti Networks to a “neutral” rating in a research note on Monday, April 25th. Zacks Investment Research lowered Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. BMO Capital Markets upgraded Ubiquiti Networks from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $30.00 to $37.00 in a research note on Friday, May 6th. Credit Suisse Group AG restated a “hold” rating and issued a $30.00 target price on shares of Ubiquiti Networks in a research note on Tuesday, May 3rd. Finally, Wunderlich raised their target price on Ubiquiti Networks from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Ubiquiti Networks currently has a consensus rating of “Hold” and a consensus price target of $32.10.
The firm has a market cap of $3.27 billion and a PE ratio of 21.48. The company’s 50 day moving average price is $39.30 and its 200-day moving average price is $34.20.
Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Thursday, May 5th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. The firm had revenue of $167.40 million for the quarter, compared to analyst estimates of $164.35 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts predict that Ubiquiti Networks Inc. will post $2.35 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of UBNT. Dimensional Fund Advisors LP increased its position in shares of Ubiquiti Networks by 69.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 654,007 shares of the company’s stock worth $20,727,000 after buying an additional 268,982 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Ubiquiti Networks by 11.2% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,937,504 shares of the company’s stock worth $156,470,000 after buying an additional 498,445 shares during the period. Bank of Montreal Can boosted its stake in shares of Ubiquiti Networks by 21.0% in the fourth quarter. Bank of Montreal Can now owns 39,959 shares of the company’s stock worth $1,266,000 after buying an additional 6,931 shares during the period. Morgan Stanley boosted its stake in shares of Ubiquiti Networks by 3,468.4% in the fourth quarter. Morgan Stanley now owns 1,097,572 shares of the company’s stock worth $34,781,000 after buying an additional 1,066,814 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Ubiquiti Networks by 2.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 70,214 shares of the company’s stock worth $2,225,000 after buying an additional 1,644 shares during the period.
Ubiquiti Networks, Inc, develops high performance networking technology for service providers and enterprises. The Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. The Company’s technology platforms for enterprises enable wireless local area network (WLAN) infrastructure, video surveillance products, and machine-to-machine communications.
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