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

A number of research analysts have commented on the company. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a research note on Monday, May 9th. BMO Capital Markets upgraded Ubiquiti Networks from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $30.00 to $37.00 in a research note on Friday, May 6th. Wunderlich upped their price target on Ubiquiti Networks from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Credit Suisse Group AG restated a “hold” rating and set a $30.00 price target on shares of Ubiquiti Networks in a research note on Tuesday, May 3rd. Finally, OTR Global upgraded 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 assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Ubiquiti Networks presently has an average rating of “Hold” and an average price target of $32.10.

The firm has a market cap of $3.66 billion and a PE ratio of 24.06. The company’s 50-day moving average is $39.77 and its 200-day moving average is $35.04.

Ubiquiti Networks (NASDAQ:UBNT) last released its 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. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm earned $167.40 million during the quarter, compared to analysts’ expectations of $164.35 million. The firm’s revenue was up 13.5% on a year-over-year basis. On average, equities research analysts expect that Ubiquiti Networks Inc. will post $2.35 EPS for the current fiscal year.

Several institutional investors recently made changes to their positions in the stock. Bank of Montreal Can raised its position 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. California State Teachers Retirement System raised its position in shares of Ubiquiti Networks by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 56,716 shares of the company’s stock worth $1,797,000 after buying an additional 885 shares during the period. TrimTabs Asset Management LLC bought a new position in shares of Ubiquiti Networks during the fourth quarter worth $2,015,000. State of Tennessee Treasury Department raised its position in shares of Ubiquiti Networks by 5.0% in the fourth quarter. State of Tennessee Treasury Department now owns 770,000 shares of the company’s stock worth $24,401,000 after buying an additional 36,974 shares during the period. Finally, Morgan Stanley raised its position 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.

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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