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

A number of research analysts have recently commented on the company. Credit Suisse Group AG reiterated a “hold” rating and set a $30.00 target price on shares of Ubiquiti Networks in a research report on Tuesday, May 3rd. Deutsche Bank AG set a $31.00 price target on Ubiquiti Networks and gave the stock a “hold” rating in a research report on Friday, August 5th. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research report on Monday, May 9th. Wunderlich raised their price target on Ubiquiti Networks from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, May 6th. Finally, BMO Capital Markets upgraded Ubiquiti Networks from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $30.00 to $37.00 in a research report on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Ubiquiti Networks has a consensus rating of “Hold” and a consensus price target of $37.11.

The firm has a 50 day moving average price of $44.69 and a 200-day moving average price of $37.87. The firm has a market cap of $4.23 billion and a price-to-earnings ratio of 20.60.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The company had revenue of $185.70 million for the quarter, compared to analysts’ expectations of $174.47 million. Ubiquiti Networks’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. Equities research analysts expect that Ubiquiti Networks Inc. will post $2.78 EPS for the current year.

A hedge fund recently raised its stake in Ubiquiti Networks stock. Bank of Montreal Can raised its position in shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,959 shares of the company’s stock after buying an additional 6,931 shares during the period. Bank of Montreal Can’s holdings in Ubiquiti Networks were worth $1,266,000 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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