Credit Suisse Group restated their sell rating on shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) in a report published on Friday. Credit Suisse Group currently has a $54.00 target price on the Wireless communications provider’s stock.

A number of other equities research analysts also recently commented on UBNT. Vetr downgraded Ubiquiti Networks from a buy rating to a hold rating and set a $56.18 price objective for the company. in a report on Monday, July 31st. ValuEngine downgraded Ubiquiti Networks from a buy rating to a hold rating in a report on Thursday. BidaskClub upgraded Ubiquiti Networks from a hold rating to a buy rating in a report on Monday, July 31st. Zacks Investment Research downgraded Ubiquiti Networks from a buy rating to a hold rating in a report on Monday, July 10th. Finally, Deutsche Bank AG upped their price objective on Ubiquiti Networks from $38.00 to $40.00 and gave the company a hold rating in a report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $50.89.

Shares of Ubiquiti Networks (NASDAQ:UBNT) traded up 3.61% during trading on Friday, reaching $65.13. The company had a trading volume of 1,170,763 shares. The firm has a market capitalization of $5.23 billion, a P/E ratio of 21.41 and a beta of 0.48. The company has a 50 day moving average of $51.65 and a 200-day moving average of $51.71. Ubiquiti Networks has a 52-week low of $43.56 and a 52-week high of $65.99.

Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $228.60 million during the quarter, compared to the consensus estimate of $219.14 million. Ubiquiti Networks had a return on equity of 47.10% and a net margin of 29.76%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. Equities analysts expect that Ubiquiti Networks will post $3.53 earnings per share for the current year.

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Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ubiquiti Networks by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,001,643 shares of the Wireless communications provider’s stock valued at $100,601,000 after buying an additional 86,845 shares during the period. BlackRock Inc. increased its stake in shares of Ubiquiti Networks by 11,607.1% in the first quarter. BlackRock Inc. now owns 1,965,976 shares of the Wireless communications provider’s stock valued at $98,810,000 after buying an additional 1,949,183 shares during the period. State of Tennessee Treasury Department increased its stake in shares of Ubiquiti Networks by 24.2% in the first quarter. State of Tennessee Treasury Department now owns 860,000 shares of the Wireless communications provider’s stock valued at $43,224,000 after buying an additional 167,493 shares during the period. Renaissance Technologies LLC increased its stake in shares of Ubiquiti Networks by 1.4% in the first quarter. Renaissance Technologies LLC now owns 765,000 shares of the Wireless communications provider’s stock valued at $38,449,000 after buying an additional 10,800 shares during the period. Finally, State Street Corp increased its stake in shares of Ubiquiti Networks by 12.7% in the first quarter. State Street Corp now owns 557,346 shares of the Wireless communications provider’s stock valued at $28,012,000 after buying an additional 62,694 shares during the period. Institutional investors own 30.72% of the company’s stock.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

Analyst Recommendations for Ubiquiti Networks (NASDAQ:UBNT)

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