Ubiquiti Networks (NASDAQ:UBNT) was upgraded by equities researchers at Raymond James from a “neutral” rating to an “outperform” rating in a research report issued on Friday, AnalystRatings.Net reports. The firm currently has a $48.00 price target on the stock, up from their previous price target of $40.00. Raymond James’ target price points to a potential upside of 29.10% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Wedbush upgraded shares of Ubiquiti Networks from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $48.00 price target on the stock, up previously from $40.00. Finally, analysts at Zacks downgraded shares of Ubiquiti Networks from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, October 28th. They now have a $44.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Ubiquiti Networks has an average rating of “Buy” and an average price target of $38.45.
Ubiquiti Networks (NASDAQ:UBNT) traded up 17.27% on Friday, hitting $43.5999. The stock had a trading volume of 1,680,021 shares. Ubiquiti Networks has a 1-year low of $10.01 and a 1-year high of $43.99. The stock has a 50-day moving average of $36.75 and a 200-day moving average of $25.70. The company has a market cap of $3.820 billion and a price-to-earnings ratio of 41.78.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.07. The company had revenue of $129.70 million for the quarter, compared to the consensus estimate of $119.30 million. During the same quarter last year, the company posted $0.15 earnings per share. Ubiquiti Networks’s revenue was up 110.9% compared to the same quarter last year. Analysts expect that Ubiquiti Networks will post $1.63 EPS for the current fiscal year.
Ubiquiti Networks, Inc (NASDAQ:UBNT) is a communications technology Company.
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