Credit Suisse Group assumed coverage on shares of Ubiquiti Networks (NASDAQ:UBNT) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm issued a neutral rating and a $74.00 target price on the Wireless communications provider’s stock.
UBNT has been the subject of a number of other reports. Vetr raised Ubiquiti Networks from a sell rating to a hold rating and set a $74.74 price target for the company in a report on Monday, January 22nd. Zacks Investment Research raised Ubiquiti Networks from a hold rating to a buy rating and set a $82.00 price target for the company in a report on Friday, January 12th. Deutsche Bank lifted their price target on Ubiquiti Networks from $47.00 to $55.00 and gave the stock a hold rating in a report on Friday, February 9th. TheStreet downgraded Ubiquiti Networks from an a rating to a c+ rating in a report on Friday, February 9th. Finally, BidaskClub downgraded Ubiquiti Networks from a strong-buy rating to a buy rating in a report on Wednesday, April 11th. Six equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company’s stock. Ubiquiti Networks presently has a consensus rating of Buy and a consensus target price of $71.95.
Ubiquiti Networks opened at $81.72 on Wednesday, Marketbeat Ratings reports. The firm has a market capitalization of $5.70 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.05 and a beta of 0.77. Ubiquiti Networks has a 12-month low of $46.16 and a 12-month high of $85.76. The company has a quick ratio of 10.00, a current ratio of 10.94 and a debt-to-equity ratio of 0.95.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, May 10th. The Wireless communications provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.05. The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $247.92 million. Ubiquiti Networks had a return on equity of 47.42% and a net margin of 15.73%. Ubiquiti Networks’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $0.79 earnings per share. equities research analysts predict that Ubiquiti Networks will post 1.93 earnings per share for the current year.
Ubiquiti Networks announced that its board has approved a share buyback program on Thursday, February 8th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the Wireless communications provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of UBNT. BlackRock Inc. increased its position in shares of Ubiquiti Networks by 8.3% during the first quarter. BlackRock Inc. now owns 1,601,726 shares of the Wireless communications provider’s stock worth $110,198,000 after purchasing an additional 123,254 shares in the last quarter. Hunt Lane Capital LP increased its position in shares of Ubiquiti Networks by 10.9% during the fourth quarter. Hunt Lane Capital LP now owns 698,544 shares of the Wireless communications provider’s stock worth $49,611,000 after purchasing an additional 68,544 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Ubiquiti Networks during the fourth quarter worth about $4,681,000. Bank of New York Mellon Corp increased its position in shares of Ubiquiti Networks by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 188,899 shares of the Wireless communications provider’s stock worth $13,416,000 after purchasing an additional 33,272 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in shares of Ubiquiti Networks during the fourth quarter worth about $1,969,000. Institutional investors and hedge funds own 31.03% of the company’s stock.
About Ubiquiti Networks
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other complimentary WLAN products.
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