Ubiquiti Networks, Inc. (UBNT) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) from a hold rating to a buy rating in a research report released on Friday.

Other equities analysts have also issued reports about the stock. BMO Capital Markets decreased their price objective on shares of Ubiquiti Networks from $66.00 to $60.00 and set a positive rating for the company in a report on Friday. Vetr raised shares of Ubiquiti Networks from a hold rating to a buy rating and set a $58.36 target price for the company in a research report on Wednesday, August 2nd. BidaskClub raised shares of Ubiquiti Networks from a hold rating to a buy rating in a research report on Monday, July 31st. Deutsche Bank AG lifted their target price on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a hold rating in a research report on Monday, August 7th. 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $56.86.

Ubiquiti Networks (NASDAQ UBNT) opened at $62.54 on Friday. Ubiquiti Networks has a 1-year low of $45.71 and a 1-year high of $67.80. The firm has a market cap of $4,868.25, a P/E ratio of 19.92, a P/E/G ratio of 1.12 and a beta of 0.50.

Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings data on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. The company had revenue of $245.90 million during the quarter, compared to analyst estimates of $240.39 million. During the same period in the previous year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. analysts forecast that Ubiquiti Networks will post 2.78 EPS for the current year.

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

In other Ubiquiti Networks news, insider Robert J. Pera sold 1,000,000 shares of Ubiquiti Networks stock in a transaction that occurred on Monday, August 28th. The shares were 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 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 SEC, which is available at the SEC website. Insiders own 72.80% of the company’s stock.

Several hedge funds have recently modified their holdings of UBNT. PNC Financial Services Group Inc. grew its position 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 valued at $102,000 after acquiring an additional 80 shares during the period. SG Americas Securities LLC bought a new stake in shares of Ubiquiti Networks during the 2nd quarter valued at $144,000. Pacer Advisors Inc. grew its position 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 valued at $157,000 after acquiring 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 valued at $178,000. Finally, Hikari Power Ltd bought a new stake in shares of Ubiquiti Networks during the 2nd quarter valued at $205,000. 32.11% of the stock is owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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