Ubiquiti Networks (NASDAQ:UBNT) had its target price boosted by BMO Capital Markets from $60.00 to $63.00 in a research note published on Friday. BMO Capital Markets currently has a market perform rating on the Wireless communications provider’s stock.

Several other research firms have also recently commented on UBNT. Deutsche Bank lifted their price target on Ubiquiti Networks from $47.00 to $55.00 and gave the company a hold rating in a report on Friday. Vetr upgraded Ubiquiti Networks from a sell rating to a hold rating and set a $74.74 price target for the company in a report on Monday, February 5th. ValuEngine upgraded Ubiquiti Networks from a hold rating to a buy rating in a report on Friday, November 10th. BidaskClub cut Ubiquiti Networks from a strong-buy rating to a buy rating in a report on Saturday, December 2nd. Finally, Zacks Investment Research cut Ubiquiti Networks from a hold rating to a sell rating in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company. Ubiquiti Networks presently has an average rating of Hold and an average target price of $65.75.

Ubiquiti Networks (NASDAQ:UBNT) traded up $3.09 during trading on Friday, reaching $70.55. The company had a trading volume of 802,643 shares, compared to its average volume of 408,848. The stock has a market cap of $5,240.75, a PE ratio of 21.21, a PEG ratio of 1.15 and a beta of 0.58. Ubiquiti Networks has a 1 year low of $45.71 and a 1 year high of $82.30.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings data on Thursday, February 8th. The Wireless communications provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $250.80 million during the quarter, compared to analysts’ expectations of $239.89 million. Ubiquiti Networks had a return on equity of 45.49% and a net margin of 15.73%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. equities analysts expect that Ubiquiti Networks will post 3.08 EPS for the current fiscal year.

Ubiquiti Networks announced that its Board of Directors has initiated a share buyback program on Thursday, November 9th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the Wireless communications provider to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Several large investors have recently modified their holdings of the company. Schroder Investment Management Group purchased a new stake in shares of Ubiquiti Networks during the 4th quarter worth about $4,681,000. Bank of New York Mellon Corp grew its holdings in shares of Ubiquiti Networks by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 188,899 shares of the Wireless communications provider’s stock worth $13,416,000 after purchasing an additional 33,272 shares during the period. Capital Fund Management S.A. purchased a new stake in shares of Ubiquiti Networks during the 4th quarter worth about $625,000. Teacher Retirement System of Texas purchased a new stake in shares of Ubiquiti Networks during the 4th quarter worth about $689,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Ubiquiti Networks during the 4th quarter worth about $104,000. Institutional investors and hedge funds own 33.48% of the company’s stock.

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Ubiquiti Networks Company Profile

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.

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