Wall Street Zen Upgrades Ubiquiti (NYSE:UI) to "Buy"

Ubiquiti (NYSE:UI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research firms have also recently commented on UI. BWS Financial restated a "buy" rating and set a $980.00 price target on shares of Ubiquiti in a research report on Monday, November 9th. Barclays lifted their price objective on Ubiquiti from $489.00 to $537.00 and gave the company an "underweight" rating in a research note on Monday, November 9th. Zacks Research downgraded Ubiquiti from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, Weiss Ratings lowered Ubiquiti from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 30th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $758.50.

Ubiquiti Stock Performance

Ubiquiti stock opened at $668.78 on Friday. The company's 50 day simple moving average is $595.29 and its 200-day simple moving average is $660.44. The company has a market capitalization of $40.45 billion, a price-to-earnings ratio of 38.60 and a beta of 1.34. Ubiquiti has a 1 year low of $500.23 and a 1 year high of $1,099.99.

Ubiquiti (NYSE:UI - Get Free Report) last issued 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 firm 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 80.29%. Equities analysts expect that Ubiquiti will post 16.94 earnings per share for the current year.

Institutional Investors Weigh In On Ubiquiti

Large investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC raised its stake in Ubiquiti by 1.7% in the third quarter. Valeo Financial Advisors LLC now owns 1,076 shares of the company's stock valued at $611,000 after buying an additional 18 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Ubiquiti by 4.3% in the 3rd quarter. Greenleaf Trust now owns 504 shares of the company's stock valued at $286,000 after acquiring an additional 21 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Ubiquiti by 109.5% in the 3rd quarter. Fortitude Family Office LLC now owns 44 shares of the company's stock valued at $25,000 after acquiring an additional 23 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Ubiquiti by 0.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,733 shares of the company's stock valued at $2,119,000 after acquiring an additional 23 shares during the last quarter. Finally, Choreo LLC raised its position in shares of Ubiquiti by 2.8% during the 3rd quarter. Choreo LLC now owns 880 shares of the company's stock worth $500,000 after acquiring an additional 24 shares in the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

About Ubiquiti

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.

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