Ubiquiti Networks Inc. (NASDAQ:UBNT)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $50.79 and last traded at $50.71, with a volume of 352,170 shares trading hands. The stock had previously closed at $50.25.

A number of research firms have issued reports on UBNT. Morgan Stanley set a $35.00 price target on Ubiquiti Networks and gave the company a “sell” rating in a research note on Thursday, August 11th. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, August 9th. Deutsche Bank AG set a $31.00 price target on Ubiquiti Networks and gave the company a “hold” rating in a research note on Friday, August 5th. Wunderlich lifted their price target on Ubiquiti Networks from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Ubiquiti Networks has a consensus rating of “Hold” and an average target price of $37.11.

The company’s 50-day moving average is $42.69 and its 200-day moving average is $36.93. The stock has a market cap of $4.18 billion and a price-to-earnings ratio of 20.37.

Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. The company earned $185.70 million during the quarter, compared to the consensus estimate of $174.47 million. Ubiquiti Networks’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. Analysts expect that Ubiquiti Networks Inc. will post $2.78 EPS for the current year.

Several institutional investors have made changes to their positions in the stock. Bank of Montreal Can increased 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 in the last quarter. TrimTabs Asset Management LLC acquired a new position in shares of Ubiquiti Networks during the fourth quarter worth $2,015,000. State of Tennessee Treasury Department increased 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 in the last quarter. Finally, Morgan Stanley increased 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 in 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.

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