Shares of Ubiquiti Networks Inc (NASDAQ:UBNT) have earned an average recommendation of “Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $69.44.
UBNT has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. BidaskClub upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 20th. TheStreet upgraded shares of Ubiquiti Networks from a “c+” rating to a “b+” rating in a research note on Wednesday, May 23rd. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Credit Suisse Group assumed coverage on shares of Ubiquiti Networks in a research report on Wednesday, May 9th. They issued a “neutral” rating and a $74.00 price target for the company.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB lifted its position in shares of Ubiquiti Networks by 28.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 3,658 shares of the Wireless communications provider’s stock worth $252,000 after purchasing an additional 800 shares during the period. Guggenheim Capital LLC lifted its position in shares of Ubiquiti Networks by 3.4% in the 1st quarter. Guggenheim Capital LLC now owns 19,835 shares of the Wireless communications provider’s stock worth $1,364,000 after purchasing an additional 645 shares during the period. Element Capital Management LLC purchased a new stake in shares of Ubiquiti Networks in the 1st quarter worth approximately $229,000. A.R.T. Advisors LLC purchased a new stake in shares of Ubiquiti Networks in the 1st quarter worth approximately $877,000. Finally, Seven Eight Capital LP purchased a new stake in shares of Ubiquiti Networks in the 1st quarter worth approximately $1,813,000. 30.38% of the stock is owned by hedge funds and other institutional investors.
Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Thursday, May 10th. The Wireless communications provider reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. The business had revenue of $250.40 million for the quarter, compared to the consensus estimate of $247.92 million. Ubiquiti Networks had a net margin of 19.15% and a return on equity of 56.13%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. research analysts expect that Ubiquiti Networks will post 2.42 EPS for the current fiscal year.
Ubiquiti Networks announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 13th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. 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 complimentary WLAN products.
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