Ubiquiti Networks, Inc. (NASDAQ:UBNT) PT Raised to $44.00 at Deutsche Bank AG

Ubiquiti Networks, Inc. (NASDAQ:UBNT) had its price objective lifted by Deutsche Bank AG from $40.00 to $44.00 in a research report sent to investors on Monday morning. Deutsche Bank AG currently has a hold rating on the Wireless communications provider’s stock.

A number of other research firms also recently issued reports on UBNT. BidaskClub raised shares of Ubiquiti Networks from a hold rating to a buy rating in a research note on Tuesday, June 27th. Vetr downgraded shares of Ubiquiti Networks from a strong-buy rating to a buy rating and set a $55.50 price target on the stock. in a research note on Monday, June 26th. Zacks Investment Research raised shares of Ubiquiti Networks from a hold rating to a buy rating and set a $52.00 price target on the stock in a research note on Wednesday, May 10th. ValuEngine downgraded shares of Ubiquiti Networks from a buy rating to a hold rating in a research note on Thursday, August 3rd. Finally, Credit Suisse Group reissued a sell rating and issued a $44.00 price target on shares of Ubiquiti Networks in a research note on Tuesday, May 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $51.56.

Shares of Ubiquiti Networks (NASDAQ UBNT) traded up 1.69% during trading on Monday, hitting $66.08. 211,144 shares of the stock were exchanged. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 21.72 and a beta of 0.48. Ubiquiti Networks has a one year low of $43.56 and a one year high of $66.45. The stock’s 50 day moving average price is $51.65 and its 200-day moving average price is $51.71.

Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 47.10%. Ubiquiti Networks’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. On average, analysts predict that Ubiquiti Networks will post $3.64 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in UBNT. Vanguard Group Inc. increased its stake in 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 worth $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 last quarter. 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 last quarter. 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 last quarter. 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 last quarter. 30.95% of the stock is currently owned by institutional investors and hedge funds.

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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