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

Key Points

• BWS Financial has raised its target price for Ubiquiti (NYSE:UI) from $440.00 to $600.00, indicating a potential upside of 16.13% from its previous close.
• Barclays has lowered its price target for Ubiquiti from $247.00 to $299.00 while maintaining an "underweight" rating, reflecting contrasting views among analysts.
• Ubiquiti reported earnings of $3.54 per share for the last quarter, exceeding estimates, and saw revenues of $759.15 million, significantly higher than analyst forecasts.

Ubiquiti (NYSE:UI - Get Free Report) had its target price boosted by equities researchers at BWS Financial from $440.00 to $600.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BWS Financial's target price points to a potential upside of 16.13% from the company's previous close.

Separately, Barclays boosted their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $449.50.

Ubiquiti Price Performance

Shares of UI stock traded up $6.43 during trading hours on Monday, reaching $516.66. 95,490 shares of the company were exchanged, compared to its average volume of 109,742. Ubiquiti has a fifty-two week low of $184.00 and a fifty-two week high of $525.66. The stock's fifty day moving average is $423.25 and its two-hundred day moving average is $372.28. The company has a market cap of $31.25 billion, a price-to-earnings ratio of 43.91 and a beta of 1.35.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $1.31. The business had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. Ubiquiti had a net margin of 27.66% and a return on equity of 215.74%. During the same period in the previous year, the firm posted $1.74 earnings per share. On average, research analysts anticipate that Ubiquiti will post 7.21 earnings per share for the current year.

Institutional Investors Weigh In On Ubiquiti

Large investors have recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in Ubiquiti in the first quarter valued at approximately $25,000. Brooklyn Investment Group increased its stake in Ubiquiti by 78.8% in the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after purchasing an additional 41 shares in the last quarter. Versant Capital Management Inc increased its stake in Ubiquiti by 484.2% in the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after purchasing an additional 92 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Ubiquiti by 1,075.0% in the second quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company's stock valued at $39,000 after purchasing an additional 86 shares in the last quarter. Finally, Main Street Group LTD bought a new stake in Ubiquiti in the second quarter valued at approximately $41,000. Institutional investors own 4.00% of the company's stock.

About Ubiquiti

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.

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