Ubiquiti Networks Inc. (NASDAQ:UBNT) shares reached a new 52-week high on Monday . The stock traded as high as $51.24 and last traded at $50.57, with a volume of 166,525 shares. The stock had previously closed at $50.56.

UBNT has been the subject of a number of research reports. Morgan Stanley set a $35.00 price objective on Ubiquiti Networks and gave the company a “sell” rating in a research report on Thursday, August 11th. OTR Global upgraded Ubiquiti Networks to a “neutral” rating in a research report on Monday, April 25th. BMO Capital Markets upgraded Ubiquiti Networks from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $30.00 to $37.00 in a research report on Friday, May 6th. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Tuesday, August 9th. Finally, Wunderlich upped their price objective on Ubiquiti Networks from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $37.11.

The stock’s 50 day moving average is $44.14 and its 200-day moving average is $37.42. The company has a market capitalization of $4.17 billion and a price-to-earnings ratio of 20.32.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. During the same period in the previous year, the business earned $0.50 EPS. The business earned $185.70 million during the quarter, compared to analyst estimates of $174.47 million. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities research analysts expect that Ubiquiti Networks Inc. will post $2.78 EPS for the current fiscal year.

A hedge fund recently raised its stake in Ubiquiti Networks stock. State of Tennessee Treasury Department raised its position in Ubiquiti Networks Inc. (NASDAQ:UBNT) by 5.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 770,000 shares of the company’s stock after buying an additional 36,974 shares during the period. State of Tennessee Treasury Department owned 0.93% of Ubiquiti Networks worth $24,401,000 at the end of the most recent 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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