Ubiquiti Networks Inc. (NASDAQ:UBNT) shares reached a new 52-week high on Monday . The company traded as high as $53.51 and last traded at $53.17, with a volume of 580,200 shares trading hands. The stock had previously closed at $52.07.

A number of research analysts have weighed in on the stock. Morgan Stanley set a $35.00 price objective on shares of Ubiquiti Networks and gave the company a “sell” rating in a research report on Thursday, August 11th. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Tuesday, August 9th. Wunderlich boosted their price objective on shares of Ubiquiti Networks from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Deutsche Bank AG set a $31.00 price objective on shares of Ubiquiti Networks and gave the company a “hold” rating in a research report on Friday, August 5th. Two research 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. Ubiquiti Networks has a consensus rating of “Hold” and an average target price of $37.11.

The firm has a market capitalization of $4.35 billion and a P/E ratio of 21.35. The firm has a 50 day moving average price of $47.44 and a 200-day moving average price of $38.81.

Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The firm earned $185.70 million during the quarter, compared to analysts’ expectations of $174.47 million. During the same quarter in the previous year, the business posted $0.50 EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities research analysts anticipate 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.