Ubiquiti Networks Inc. (NASDAQ:UBNT)’s share price traded up 3.1% on Monday . The stock traded as high as $43.53 and last traded at $43.42, with a volume of 404,289 shares trading hands. The stock had previously closed at $42.12.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research report on Monday, May 9th. BMO Capital Markets upgraded shares of Ubiquiti Networks from an “underperform” rating to a “market perform” rating and upped their price target for the company from $30.00 to $37.00 in a research note on Friday, May 6th. Wunderlich upped their price target on shares of Ubiquiti Networks from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, May 6th. Credit Suisse Group AG restated a “hold” rating and issued a $30.00 price target on shares of Ubiquiti Networks in a research note on Tuesday, May 3rd. Finally, OTR Global upgraded shares of Ubiquiti Networks to a “neutral” rating in a research note on Monday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.10.

The stock has a market cap of $3.60 billion and a PE ratio of 23.68. The stock has a 50 day moving average price of $39.56 and a 200 day moving average price of $34.76.

Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.07. The company earned $167.40 million during the quarter, compared to the consensus estimate of $164.35 million. The company’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. Analysts predict that Ubiquiti Networks Inc. will post $2.35 EPS for the current fiscal year.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. raised its position in Ubiquiti Networks by 11.2% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,937,504 shares of the company’s stock valued at $156,470,000 after buying an additional 498,445 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ubiquiti Networks by 69.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 654,007 shares of the company’s stock valued at $20,727,000 after buying an additional 268,982 shares during the last quarter. TrimTabs Asset Management LLC bought a new position in Ubiquiti Networks during the fourth quarter valued at approximately $2,015,000. Morgan Stanley raised its position in Ubiquiti Networks by 3,468.4% in the fourth quarter. Morgan Stanley now owns 1,097,572 shares of the company’s stock valued at $34,781,000 after buying an additional 1,066,814 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Ubiquiti Networks by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 56,716 shares of the company’s stock valued at $1,797,000 after buying an additional 885 shares during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.