Ubiquiti Networks (NASDAQ:UBNT) Now Covered by Analysts at Barclays

Stock analysts at Barclays initiated coverage on shares of Ubiquiti Networks (NASDAQ:UBNT) in a report released on Wednesday, The Fly reports. The firm set an “underweight” rating on the Wireless communications provider’s stock.

UBNT has been the subject of several other reports. BidaskClub lowered shares of Ubiquiti Networks from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Tuesday, May 21st. Finally, ValuEngine lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 13th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $100.60.

Shares of UBNT stock traded down $0.21 during trading hours on Wednesday, reaching $118.92. The stock had a trading volume of 273,081 shares, compared to its average volume of 382,743. The stock has a fifty day simple moving average of $130.82. The company has a quick ratio of 3.40, a current ratio of 5.03 and a debt-to-equity ratio of 2.33. Ubiquiti Networks has a 12 month low of $79.55 and a 12 month high of $174.95. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 32.49 and a beta of 1.28.

Ubiquiti Networks (NASDAQ:UBNT) last announced its earnings results on Friday, May 10th. The Wireless communications provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.16. Ubiquiti Networks had a net margin of 28.11% and a return on equity of 152.60%. The business had revenue of $284.90 million during the quarter, compared to analyst estimates of $285.96 million. During the same period in the previous year, the business posted $0.98 earnings per share. Ubiquiti Networks’s revenue for the quarter was up 13.8% on a year-over-year basis.

Several large investors have recently modified their holdings of the company. Legal & General Group Plc increased its position in Ubiquiti Networks by 11.3% during the 4th quarter. Legal & General Group Plc now owns 9,518 shares of the Wireless communications provider’s stock worth $947,000 after purchasing an additional 966 shares in the last quarter. Peregrine Asset Advisers Inc. purchased a new stake in shares of Ubiquiti Networks in the first quarter valued at about $3,074,000. Norges Bank purchased a new stake in shares of Ubiquiti Networks in the fourth quarter valued at about $34,971,000. FMR LLC raised its holdings in shares of Ubiquiti Networks by 47,525.2% in the fourth quarter. FMR LLC now owns 52,864 shares of the Wireless communications provider’s stock valued at $5,255,000 after purchasing an additional 52,753 shares during the last quarter. Finally, Pennsylvania Trust Co purchased a new stake in shares of Ubiquiti Networks in the first quarter valued at about $2,340,000. Institutional investors own 20.77% of the company’s stock.

About Ubiquiti Networks

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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The Fly

Analyst Recommendations for Ubiquiti Networks (NASDAQ:UBNT)

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