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.”
UBNT has been the topic of several other reports. Morgan Stanley set a $28.00 target price on shares of Ubiquiti Networks and gave the stock a sell rating in a report on Friday, August 5th. Wunderlich increased their price objective 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 price objective on shares of Ubiquiti Networks and gave the stock a hold rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Ubiquiti Networks has a consensus rating of Hold and a consensus target price of $37.11.
Ubiquiti Networks (NASDAQ:UBNT) traded down 0.77% on Thursday, reaching $53.78. 217,493 shares of the company’s stock were exchanged. Ubiquiti Networks has a 12 month low of $25.75 and a 12 month high of $55.00. The firm’s 50-day moving average is $52.63 and its 200-day moving average is $42.30. The firm has a market cap of $4.40 billion, a PE ratio of 21.60 and a beta of 1.32.
Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, August 4th. The company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The company 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%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. On average, equities analysts forecast that Ubiquiti Networks will post $2.78 earnings per share for the current year.
In related news, VP Benjamin Moore sold 150,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $51.20, for a total value of $7,680,000.00. Following the completion of the transaction, the vice president now owns 758 shares of the company’s stock, valued at $38,809.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 69.08% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Ubiquiti Networks by 2.9% in the second quarter. Vanguard Group Inc. now owns 1,882,457 shares of the company’s stock worth $72,776,000 after buying an additional 52,733 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Ubiquiti Networks by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,140,799 shares of the company’s stock worth $44,102,000 after buying an additional 92,770 shares during the period. BlackRock Institutional Trust Company N.A. increased its position 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 period. Teachers Advisors Inc. increased its position in shares of Ubiquiti Networks by 8.5% in the second quarter. Teachers Advisors Inc. now owns 295,709 shares of the company’s stock worth $11,432,000 after buying an additional 23,122 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Ubiquiti Networks by 40.2% in the first quarter. JPMorgan Chase & Co. now owns 286,985 shares of the company’s stock worth $9,547,000 after buying an additional 82,220 shares during the period. 30.22% of the stock is owned by institutional investors.
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.
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