Ubiquiti Networks, Inc. (NASDAQ:UBNT) had its target price reduced by BMO Capital Markets from $66.00 to $60.00 in a research report released on Friday. They currently have a positive rating on the Wireless communications provider’s stock.
Other equities analysts also recently issued research reports about the stock. Vetr raised shares of Ubiquiti Networks from a hold rating to a buy rating and set a $58.36 price objective for the company in a report on Wednesday, August 2nd. BidaskClub raised shares of Ubiquiti Networks from a hold rating to a buy rating in a report on Monday, July 31st. Deutsche Bank AG boosted their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the company a hold rating in a report on Monday, August 7th. Zacks Investment Research raised shares of Ubiquiti Networks from a hold rating to a buy rating and set a $64.00 price target for the company in a report on Thursday, October 5th. Finally, ValuEngine downgraded shares of Ubiquiti Networks from a buy rating to a hold rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $56.86.
Ubiquiti Networks (UBNT) opened at $63.02 on Friday. The company has a market cap of $4,868.25, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.12 and a beta of 0.50. Ubiquiti Networks has a 1-year low of $45.71 and a 1-year high of $67.80.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings data on Thursday, November 9th. The Wireless communications provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. The firm had revenue of $245.90 million during the quarter, compared to the consensus estimate of $240.39 million. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. research analysts predict that Ubiquiti Networks will post 2.78 earnings per share for the current fiscal year.
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Ubiquiti Networks declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the Wireless communications provider to buy up to 18% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
In other news, insider Robert J. Pera sold 1,000,000 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $61.25, for a total transaction of $61,250,000.00. Following the completion of the transaction, the insider now owns 56,278,181 shares of the company’s stock, valued at $3,447,038,586.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 72.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in 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 period. Renaissance Group LLC lifted its holdings in Ubiquiti Networks by 2.1% in the second quarter. Renaissance Group LLC now owns 6,612 shares of the Wireless communications provider’s stock worth $344,000 after purchasing an additional 136 shares during the period. Kempen Capital Management N.V. lifted its holdings in Ubiquiti Networks by 81.7% in the second quarter. Kempen Capital Management N.V. now owns 64,721 shares of the Wireless communications provider’s stock worth $3,364,000 after purchasing an additional 29,111 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Ubiquiti Networks by 34.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,616,027 shares of the Wireless communications provider’s stock worth $83,985,000 after purchasing an additional 413,560 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in Ubiquiti Networks by 37.5% in the second quarter. Public Employees Retirement System of Ohio now owns 169,700 shares of the Wireless communications provider’s stock worth $8,819,000 after purchasing an additional 46,300 shares during the period. 32.11% of the stock is 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.
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