Ubiquiti Networks, Inc. (UBNT) Downgraded to “Buy” at Vetr Inc.
Vetr downgraded shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) from a strong-buy rating to a buy rating in a report published on Wednesday. They currently have $65.54 price objective on the Wireless communications provider’s stock.
A number of other equities analysts have also weighed in on UBNT. BidaskClub raised Ubiquiti Networks from a buy rating to a strong-buy rating in a research report on Tuesday, August 8th. Deutsche Bank AG upped their target price on Ubiquiti Networks from $40.00 to $44.00 and gave the stock a hold rating in a research report on Monday, August 7th. ValuEngine lowered Ubiquiti Networks from a buy rating to a hold rating in a research report on Thursday, August 3rd. Credit Suisse Group reaffirmed a sell rating and set a $54.00 target price on shares of Ubiquiti Networks in a research report on Friday, August 4th. Finally, Zacks Investment Research lowered Ubiquiti Networks from a buy rating to a hold rating in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Ubiquiti Networks has a consensus rating of Hold and an average price target of $56.31.
Shares of Ubiquiti Networks (NASDAQ:UBNT) opened at 61.80 on Wednesday. Ubiquiti Networks has a 12-month low of $45.71 and a 12-month high of $67.80. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 20.00 and a beta of 0.48. The stock’s 50 day moving average is $58.67 and its 200-day moving average is $52.35.
Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Ubiquiti Networks had a return on equity of 47.10% and a net margin of 29.76%. The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. During the same period in the prior year, the firm earned $0.69 earnings per share. Ubiquiti Networks’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, analysts anticipate that Ubiquiti Networks will post $3.61 EPS for the current fiscal year.
In related news, insider Robert J. Pera sold 1,000,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $61.25, for a total value of $61,250,000.00. Following the completion of the sale, the insider now directly owns 56,278,181 shares of the company’s stock, valued at approximately $3,447,038,586.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 70.34% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in UBNT. Wells Fargo & Company MN raised its stake in Ubiquiti Networks by 5.7% in the first quarter. Wells Fargo & Company MN now owns 150,286 shares of the Wireless communications provider’s stock worth $7,554,000 after buying an additional 8,091 shares during the last quarter. Regal Investment Advisors LLC bought a new stake in Ubiquiti Networks during the first quarter worth approximately $2,468,000. AXA raised its stake in Ubiquiti Networks by 162.9% in the first quarter. AXA now owns 18,400 shares of the Wireless communications provider’s stock worth $925,000 after buying an additional 11,400 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Ubiquiti Networks by 0.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 43,943 shares of the Wireless communications provider’s stock worth $2,209,000 after buying an additional 298 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in Ubiquiti Networks by 26.0% in the first quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock worth $185,000 after buying an additional 760 shares during the last quarter. 30.95% 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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