Ubiquiti (NYSE:UI) Stock Price Expected to Rise, Barclays Analyst Says

Ubiquiti (NYSE:UI) had its price target lifted by stock analysts at Barclays from $299.00 to $455.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target would suggest a potential downside of 22.26% from the company’s current price.

Other research analysts also recently issued research reports about the company. BWS Financial increased their price target on Ubiquiti from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Zacks Research downgraded shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings upgraded shares of Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, November 7th. Finally, UBS Group set a $600.00 price target on shares of Ubiquiti in a report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $591.67.

Ubiquiti Price Performance

UI stock opened at $585.31 on Tuesday. The stock has a market capitalization of $35.41 billion, a PE ratio of 49.73 and a beta of 1.50. Ubiquiti has a fifty-two week low of $255.00 and a fifty-two week high of $803.59. The company has a 50 day moving average price of $674.84 and a 200 day moving average price of $509.04.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, November 7th. The company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.98. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The business had revenue of $733.77 million for the quarter, compared to analyst estimates of $702.38 million. As a group, equities analysts expect that Ubiquiti will post 7.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Ubiquiti by 7.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 256 shares of the company’s stock valued at $169,000 after buying an additional 17 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Ubiquiti by 31.0% in the third quarter. Exchange Traded Concepts LLC now owns 76 shares of the company’s stock valued at $50,000 after purchasing an additional 18 shares in the last quarter. Baron Wealth Management LLC increased its stake in Ubiquiti by 2.2% in the 3rd quarter. Baron Wealth Management LLC now owns 947 shares of the company’s stock valued at $626,000 after buying an additional 20 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Ubiquiti by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,574 shares of the company’s stock worth $1,700,000 after buying an additional 20 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Ubiquiti by 1.5% during the 3rd quarter. US Bancorp DE now owns 1,582 shares of the company’s stock worth $1,045,000 after buying an additional 23 shares during the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.