Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) reached a new 52-week high during trading on Monday . The stock traded as high as $52.60 and last traded at $52.32, with a volume of 105,109 shares. The stock had previously closed at $52.26.

Several analysts recently commented on the company. Morgan Stanley set a $35.00 target price on Ubiquiti Networks and gave the stock a “sell” rating in a report on Thursday, August 11th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $30.00 target price on shares of Ubiquiti Networks in a report on Tuesday, May 3rd. Zacks Investment Research raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Tuesday, August 9th. Wunderlich raised their target price on Ubiquiti Networks from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Deutsche Bank AG set a $31.00 target price on Ubiquiti Networks and gave the stock a “hold” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Ubiquiti Networks currently has a consensus rating of “Hold” and an average target price of $37.11.

The firm’s 50-day moving average is $45.85 and its 200-day moving average is $38.23. The stock has a market cap of $4.26 billion and a price-to-earnings ratio of 20.90.

Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, August 4th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The firm earned $185.70 million during the quarter, compared to analysts’ expectations of $174.47 million. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 earnings per share. 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 increased its stake in shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) by 21.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

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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