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

Several analysts have recently weighed in on UBNT shares. Morgan Stanley set a $35.00 target price on Ubiquiti Networks and gave the company a “sell” rating in a research note on Thursday, August 11th. BMO Capital Markets upgraded Ubiquiti Networks from an “underperform” rating to a “market perform” rating and raised their target price for the company from $30.00 to $37.00 in a research note on Friday, May 6th. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Tuesday, August 9th. Wunderlich raised their target price 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, Deutsche Bank AG set a $31.00 target price on Ubiquiti Networks and gave the company a “hold” rating in a research note on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.11.

The firm has a market cap of $4.28 billion and a P/E ratio of 21.03. The firm’s 50 day moving average price is $46.55 and its 200-day moving average price is $38.63.

Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results 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. The firm had revenue of $185.70 million for the quarter, compared to analyst estimates of $174.47 million. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s revenue was up 27.8% on a year-over-year basis. Equities analysts forecast that Ubiquiti Networks Inc. will post $2.78 EPS for the current year.

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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