Ubiquiti Networks (UBNT) Rating Increased to Buy at ValuEngine

Ubiquiti Networks (NASDAQ:UBNT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Other research analysts also recently issued reports about the stock. Deutsche Bank lifted their price target on shares of Ubiquiti Networks from $47.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. BMO Capital Markets lifted their price target on shares of Ubiquiti Networks from $60.00 to $63.00 and gave the stock a “market perform” rating in a research note on Friday, February 9th. Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Friday, January 12th. Vetr raised shares of Ubiquiti Networks from a “sell” rating to a “hold” rating and set a $74.74 price target on the stock in a research note on Monday, January 22nd. Finally, BidaskClub downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $65.75.

Shares of Ubiquiti Networks (NASDAQ:UBNT) opened at $72.06 on Tuesday. The firm has a market cap of $5,490.00, a P/E ratio of 40.71, a P/E/G ratio of 1.23 and a beta of 0.58. The company has a debt-to-equity ratio of 0.95, a current ratio of 10.94 and a quick ratio of 10.00. Ubiquiti Networks has a one year low of $45.71 and a one year high of $82.30.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $250.80 million for the quarter, compared to the consensus estimate of $239.89 million. Ubiquiti Networks had a net margin of 15.73% and a return on equity of 47.42%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. equities analysts anticipate that Ubiquiti Networks will post 3.08 EPS for the current fiscal year.

Ubiquiti Networks declared that its board has approved a stock repurchase program on Thursday, November 9th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the Wireless communications provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Several institutional investors have recently modified their holdings of UBNT. PNC Financial Services Group Inc. grew its holdings in shares of Ubiquiti Networks by 4.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after purchasing an additional 80 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Ubiquiti Networks by 6.1% in the second quarter. UBS Asset Management Americas Inc. now owns 15,894 shares of the Wireless communications provider’s stock worth $826,000 after purchasing an additional 916 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Ubiquiti Networks by 8.6% in the second quarter. Voya Investment Management LLC now owns 12,920 shares of the Wireless communications provider’s stock worth $671,000 after purchasing an additional 1,027 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ubiquiti Networks by 208.5% in the second quarter. Goldman Sachs Group Inc. now owns 81,832 shares of the Wireless communications provider’s stock worth $4,253,000 after purchasing an additional 55,308 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Ubiquiti Networks in the second quarter worth approximately $408,000. Hedge funds and other institutional investors own 33.33% of the company’s stock.

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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.

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