Ubiquiti Networks Inc. (NASDAQ:UBNT) Receives Consensus Rating of “Hold” from Analysts
Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) have earned an average recommendation of “Hold” from the eleven research firms that are presently covering the firm. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $34.75.
Several brokerages recently issued reports on UBNT. Zacks Investment Research lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley set a $35.00 price objective on shares of Ubiquiti Networks and gave the company a “sell” rating in a report on Thursday, August 11th. Deutsche Bank AG set a $31.00 price objective on shares of Ubiquiti Networks and gave the company a “hold” rating in a report on Friday, August 5th. Finally, 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 report on Friday, August 5th.
Shares of Ubiquiti Networks (NASDAQ:UBNT) opened at 53.77 on Tuesday. The stock has a 50 day moving average of $52.74 and a 200-day moving average of $42.45. The company has a market capitalization of $4.40 billion, a PE ratio of 21.59 and a beta of 1.32. Ubiquiti Networks has a 12-month low of $25.75 and a 12-month high of $55.00.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the 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. Ubiquiti Networks had a net margin of 32.06% and a return on equity of 47.65%. Ubiquiti Networks’s revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Analysts predict that Ubiquiti Networks will post $2.78 earnings per share for the current fiscal year.
In related news, VP Benjamin Moore sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $51.20, for a total transaction of $7,680,000.00. Following the sale, the vice president now directly owns 758 shares in the company, valued at $38,809.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 69.08% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in UBNT. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Ubiquiti Networks during the second quarter worth $236,000. Bank of Montreal Can acquired a new position in shares of Ubiquiti Networks during the second quarter worth about $893,000. Old Mutual Global Investors UK Ltd. increased its position in shares of Ubiquiti Networks by 172.4% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 102,094 shares of the company’s stock worth $3,946,000 after buying an additional 64,612 shares during the period. Parametrica Management Ltd acquired a new position in shares of Ubiquiti Networks during the second quarter worth about $303,000. Finally, Meritage Portfolio Management acquired a new position in shares of Ubiquiti Networks during the second quarter worth about $4,128,000. Hedge funds and other institutional investors own 30.22% of the company’s stock.
Ubiquiti Networks Company Profile
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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