Ubiquiti Networks (NASDAQ:UBNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The firm presently has a $116.00 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 4.37% from the company’s previous close.

According to Zacks, “Ubiquiti reported decent fourth-quarter fiscal 2019 financial results, wherein both the bottom line and the top line increased on a year-over-year basis. The computer networking company boasts a proprietary network communication platform that is well equipped to meet end-market customer needs. It remains committed toward reducing operational costs by using a self-sustaining mechanism for rapid product support. It is witnessing impressive growth momentum in the UniFi product family in recent times. However, potential impact of tariffs imposed on certain products imported into the United States from China remains a cause of concern. Ubiquiti is exposed to geopolitical instability on account of its geographically diverse scale of operations. The company operates in an extremely price-competitive environment which includes telecom service providers.”

Several other equities analysts have also recently issued reports on the stock. Barclays restated a “sell” rating and issued a $100.00 price target on shares of Ubiquiti Networks in a research report on Monday, August 12th. BidaskClub cut shares of Ubiquiti Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, ValuEngine cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Ubiquiti Networks has an average rating of “Hold” and an average price target of $96.00.

UBNT stock traded up $0.75 during trading on Monday, reaching $111.14. 17,798 shares of the company were exchanged, compared to its average volume of 365,800. The company has a 50-day moving average of $127.74 and a two-hundred day moving average of $138.10. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.23 and a beta of 1.28. Ubiquiti Networks has a twelve month low of $80.52 and a twelve month high of $174.95. The company has a debt-to-equity ratio of 2.33, a current ratio of 5.03 and a quick ratio of 3.40.

Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings results on Friday, August 9th. The Wireless communications provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.03. Ubiquiti Networks had a net margin of 27.78% and a return on equity of 180.91%. The firm had revenue of $286.64 million during the quarter, compared to analysts’ expectations of $303.58 million. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Ubiquiti Networks will post 5.52 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in UBNT. CENTRAL TRUST Co lifted its stake in shares of Ubiquiti Networks by 700.0% in the first quarter. CENTRAL TRUST Co now owns 200 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 175 shares in the last quarter. Advisors Preferred LLC bought a new position in shares of Ubiquiti Networks in the second quarter valued at $30,000. Resources Investment Advisors LLC. bought a new position in shares of Ubiquiti Networks in the second quarter valued at $46,000. Flagship Harbor Advisors LLC lifted its stake in shares of Ubiquiti Networks by 31.3% in the second quarter. Flagship Harbor Advisors LLC now owns 394 shares of the Wireless communications provider’s stock valued at $51,000 after buying an additional 94 shares in the last quarter. Finally, Pearl River Capital LLC bought a new position in shares of Ubiquiti Networks in the second quarter valued at $56,000. 19.58% of the stock is currently owned by hedge funds and other institutional investors.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. 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 WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

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