Barclays Issues Positive Forecast for Ubiquiti (NYSE:UI) Stock Price

Key Points

• Barclays raised its Ubiquiti price target from $489 to $537 but maintained an “underweight” rating, implying 16.64% downside from the stock’s current price.
• Analyst opinions are mixed: MarketBeat reports a “Moderate Buy” consensus and an average price target of $758.50, alongside ratings ranging from Strong Buy to Sell.
• Ubiquiti beat quarterly expectations, reporting EPS of $5.32 versus $4.25 expected and revenue of $1.03 billion versus estimates of $977.45 million. Shares rose 8.7% on Monday to $644.17.

Ubiquiti (NYSE:UI - Get Free Report) had its price objective increased by equities researchers at Barclays from $489.00 to $537.00 in a report released on Monday, Benzinga reports. The firm currently has an "underweight" rating on the stock. Barclays's price target would indicate a potential downside of 16.64% from the stock's current price.

Several other research analysts also recently weighed in on the company. BWS Financial reiterated a "buy" rating and set a $980.00 price target on shares of Ubiquiti in a research note on Tuesday, September 29th. Weiss Ratings cut Ubiquiti from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 30th. Finally, Zacks Research raised shares of Ubiquiti from a "hold" rating to a "strong-buy" rating in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ubiquiti currently has a consensus rating of "Moderate Buy" and a consensus target price of $758.50.

Ubiquiti Trading Up 8.7%

Shares of NYSE:UI traded up $51.33 during midday trading on Monday, reaching $644.17. The company had a trading volume of 32,726 shares, compared to its average volume of 116,932. The stock has a market cap of $38.97 billion, a P/E ratio of 36.35 and a beta of 1.34. The company's 50 day moving average price is $586.72 and its 200 day moving average price is $657.17. Ubiquiti has a 52-week low of $500.23 and a 52-week high of $1,099.99.

Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings data on Friday, November 6th. The company reported $5.32 EPS for the quarter, topping the consensus estimate of $4.25 by $1.07. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $977.45 million. Ubiquiti had a net margin of 30.08% and a return on equity of 87.95%. Research analysts forecast that Ubiquiti will post 16.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vision Retirement LLC purchased a new position in Ubiquiti in the 1st quarter worth about $25,000. Fortitude Family Office LLC raised its holdings in shares of Ubiquiti by 109.5% during the third quarter. Fortitude Family Office LLC now owns 44 shares of the company's stock valued at $25,000 after purchasing an additional 23 shares during the last quarter. Compass Financial Management LLC bought a new position in Ubiquiti during the second quarter valued at approximately $35,000. Pinnacle Holdings LLC bought a new position in Ubiquiti during the second quarter valued at approximately $49,000. Finally, CX Institutional bought a new position in Ubiquiti during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Company Profile

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, switches and broadband wireless equipment, along with network management software and security devices such as cameras and access control systems.

The company markets products under brands including UniFi, airMAX, EdgeMAX and AmpliFi. Its UniFi platform brings together networking, video surveillance and access control products with centralized management tools.

Founded in 2003 by Robert Pera, Ubiquiti serves customers globally through distributors, online channels and retail partners.

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