Ubiquiti Networks (UBNT) Rating Lowered to Buy at BidaskClub

BidaskClub downgraded shares of Ubiquiti Networks (NASDAQ:UBNT) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning, BidAskClub reports.

A number of other brokerages have also issued reports on UBNT. Zacks Investment Research lowered shares of Ubiquiti Networks from a buy rating to a hold rating in a report on Monday, February 18th. Deutsche Bank raised their price objective on shares of Ubiquiti Networks from $67.00 to $75.00 and gave the company a hold rating in a report on Monday, February 11th. Credit Suisse Group raised their price objective on shares of Ubiquiti Networks from $86.00 to $103.00 and gave the stock a neutral rating in a research report on Monday, February 11th. BMO Capital Markets raised their price objective on shares of Ubiquiti Networks from $99.00 to $120.00 and gave the stock a market perform rating in a research report on Monday, February 11th. Finally, ValuEngine raised shares of Ubiquiti Networks from a buy rating to a strong-buy rating in a research report on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $101.00.

Shares of NASDAQ UBNT traded down $0.19 during trading on Thursday, reaching $166.60. The company had a trading volume of 4,631 shares, compared to its average volume of 365,269. Ubiquiti Networks has a 52 week low of $69.44 and a 52 week high of $174.95. The company has a market cap of $11.76 billion, a PE ratio of 45.57, a P/E/G ratio of 2.09 and a beta of 1.07. The company has a current ratio of 3.73, a quick ratio of 2.63 and a debt-to-equity ratio of 3.58.

Ubiquiti Networks (NASDAQ:UBNT) last announced its earnings results on Friday, February 8th. The Wireless communications provider reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.30. Ubiquiti Networks had a net margin of 30.29% and a return on equity of 132.49%. The company had revenue of $307.28 million during the quarter, compared to the consensus estimate of $276.44 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was up 22.5% on a year-over-year basis. As a group, equities research analysts forecast that Ubiquiti Networks will post 4 earnings per share for the current year.

In related news, Director Ronald Sege sold 10,900 shares of Ubiquiti Networks stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $147.60, for a total value of $1,608,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 78.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Enlightenment Research LLC bought a new stake in shares of Ubiquiti Networks during the 4th quarter worth $80,000. Bremer Trust National Association bought a new stake in shares of Ubiquiti Networks during the fourth quarter valued at about $80,000. NumerixS Investment Technologies Inc bought a new stake in shares of Ubiquiti Networks during the fourth quarter valued at about $99,000. Strs Ohio bought a new stake in shares of Ubiquiti Networks during the fourth quarter valued at about $175,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Ubiquiti Networks during the fourth quarter valued at about $176,000. 22.37% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Networks Company Profile

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

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Analyst Recommendations for Ubiquiti Networks (NASDAQ:UBNT)

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