Vetr upgraded shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday. The firm currently has $69.54 target price on the Wireless communications provider’s stock.

Other equities analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Ubiquiti Networks from a hold rating to a buy rating in a research report on Monday, July 31st. Deutsche Bank AG upped their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the company a hold rating in a research report on Monday, August 7th. Zacks Investment Research cut shares of Ubiquiti Networks from a buy rating to a hold rating in a research report on Monday, July 10th. ValuEngine cut shares of Ubiquiti Networks from a buy rating to a hold rating in a research report on Thursday, August 3rd. Finally, Credit Suisse Group restated a sell rating and issued a $54.00 price target on shares of Ubiquiti Networks in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $56.31.

Shares of Ubiquiti Networks (NASDAQ UBNT) opened at 61.45 on Tuesday. Ubiquiti Networks has a 52-week low of $45.71 and a 52-week high of $67.80. The firm has a market capitalization of $4.94 billion, a P/E ratio of 19.89 and a beta of 0.48. The firm has a 50-day moving average price of $58.67 and a 200-day moving average price of $52.35.

Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.06. The business had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $219.14 million. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 47.10%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. On average, equities research analysts anticipate that Ubiquiti Networks will post $3.61 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Ubiquiti Networks, Inc. (UBNT) Upgraded to Strong-Buy at Vetr Inc.” was reported by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://www.watchlistnews.com/ubiquiti-networks-inc-ubnt-upgraded-to-strong-buy-at-vetr-inc/1531084.html.

Institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its position in shares of Ubiquiti Networks by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,389 shares of the Wireless communications provider’s stock valued at $488,000 after buying an additional 24 shares during the period. PNC Financial Services Group Inc. boosted its position 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 valued at $102,000 after buying an additional 80 shares during the period. Renaissance Group LLC boosted its position in shares of Ubiquiti Networks by 2.1% in the second quarter. Renaissance Group LLC now owns 6,612 shares of the Wireless communications provider’s stock valued at $344,000 after buying an additional 136 shares during the period. Principal Financial Group Inc. boosted its position in shares of Ubiquiti Networks by 3.8% in the first quarter. Principal Financial Group Inc. now owns 6,069 shares of the Wireless communications provider’s stock valued at $305,000 after buying an additional 223 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of 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 valued at $2,209,000 after buying an additional 298 shares during the period. Hedge funds and other institutional investors own 30.95% of the company’s stock.

Ubiquiti Networks Company Profile

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.

Receive News & Ratings for Ubiquiti Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.