According to Zacks, “Ubiquiti has had an impeccable earnings surprise history in the last four trailing quarters, having beaten estimates strongly all through. Successful product launches, coupled with impressive performance from the Enterprise Technology segment, have boosted the company’s operations. Also, strong performance of UniFi AC access points and other products is driving sales growth for the company. The company’s competitively priced network and proprietary network communication platform have been driving significant demand for its products. However, macroeconomic problems like currency risks, rising labor costs in China and intensifying competition remain concerns.Also, risks related to intellectual property rights are very high for the company, particularly in some key markets including South America and China, which may pose as headwinds in the future. Moreover, stringent government legislations add to Ubiquiti’s woes.”
Other equities research analysts have also issued research reports about the stock. Morgan Stanley set a $35.00 price objective on shares of Ubiquiti Networks and gave the stock a sell rating in a research note on Thursday, August 11th. Wunderlich upped their target price on shares of Ubiquiti Networks from $48.00 to $55.00 and gave the stock a buy rating in a research report on Friday, August 5th. Finally, Deutsche Bank AG set a $31.00 target price on shares of Ubiquiti Networks and gave the stock a hold rating in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $37.11.
Ubiquiti Networks (NASDAQ:UBNT) opened at 53.78 on Thursday. The firm has a market capitalization of $4.40 billion, a P/E ratio of 21.60 and a beta of 1.32. The company’s 50 day moving average price is $52.83 and its 200 day moving average price is $42.76. Ubiquiti Networks has a 12 month low of $25.75 and a 12 month high of $55.00.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $185.70 million for the quarter, compared to analyst estimates of $174.47 million. Ubiquiti Networks had a net margin of 32.06% and a return on equity of 47.65%. Ubiquiti Networks’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. Analysts anticipate that Ubiquiti Networks will post $2.78 EPS for the current year.
In related news, VP Benjamin Moore sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $51.20, for a total transaction of $7,680,000.00. Following the completion of the sale, the vice president now directly owns 758 shares in the company, valued at $38,809.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 69.08% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of UBNT. Origin Asset Management LLP boosted its stake in shares of Ubiquiti Networks by 3,267.1% in the second quarter. Origin Asset Management LLP now owns 252,499 shares of the company’s stock worth $9,762,000 after buying an additional 245,000 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of Ubiquiti Networks by 525.9% in the first quarter. Teachers Advisors Inc. now owns 272,587 shares of the company’s stock worth $9,069,000 after buying an additional 229,034 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Ubiquiti Networks by 29.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 844,729 shares of the company’s stock worth $32,657,000 after buying an additional 190,506 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of Ubiquiti Networks by 1,056.8% in the second quarter. BlackRock Advisors LLC now owns 148,898 shares of the company’s stock worth $5,756,000 after buying an additional 136,027 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new stake in shares of Ubiquiti Networks during the second quarter worth $4,465,000. Hedge funds and other institutional investors own 30.22% of the company’s stock.
About Ubiquiti Networks
Ubiquiti Networks, Inc, develops high performance networking technology for service providers and enterprises. The Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. The Company’s technology platforms for enterprises enable wireless local area network (WLAN) infrastructure, video surveillance products, and machine-to-machine communications.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 MarketBeat.com's FREE daily email newsletter.