Ubiquiti Networks (NASDAQ:UBNT) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Several other analysts also recently commented on UBNT. Vetr downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $65.54 target price for the company. in a research report on Wednesday, August 30th. JMP Securities reissued a “market perform” rating on shares of Ubiquiti Networks in a research report on Wednesday, September 27th. ValuEngine raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. BMO Capital Markets decreased their target price on shares of Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating for the company in a research report on Friday, November 10th. Finally, Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $56.86.

Shares of Ubiquiti Networks (NASDAQ:UBNT) opened at $69.93 on Tuesday. The company has a market cap of $5,121.23, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51. Ubiquiti Networks has a 1 year low of $45.71 and a 1 year high of $70.15.

Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.06. The company 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 company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. equities analysts anticipate that Ubiquiti Networks will post 3.35 EPS for the current fiscal year.

Ubiquiti Networks announced that its board has initiated a stock buyback program on Tuesday, September 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the Wireless communications provider to repurchase up to 18% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Ubiquiti Networks by 4.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after buying an additional 80 shares during the period. SG Americas Securities LLC bought a new stake in shares of Ubiquiti Networks during the 2nd quarter worth $144,000. Pacer Advisors Inc. boosted its holdings in shares of Ubiquiti Networks by 11.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock worth $157,000 after buying an additional 319 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Ubiquiti Networks during the 3rd quarter worth $178,000. Finally, Brown Advisory Inc. bought a new stake in shares of Ubiquiti Networks during the 3rd quarter worth $211,000. 33.83% of the stock is owned by institutional investors and hedge funds.

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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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