Ubiquiti (NYSE:UI) PT Raised to $108.00

Ubiquiti (NYSE:UI - Get Free Report) had its target price boosted by investment analysts at Barclays from $93.00 to $108.00 in a report released on Monday, Benzinga reports. The firm currently has an "underweight" rating on the stock. Barclays's target price would suggest a potential downside of 19.98% from the company's previous close.

A number of other brokerages also recently issued reports on UI. StockNews.com raised shares of Ubiquiti from a "sell" rating to a "hold" rating in a report on Thursday, April 18th. BWS Financial reissued a "buy" rating and issued a $160.00 price objective on shares of Ubiquiti in a report on Monday.

Ubiquiti Price Performance

UI stock traded up $7.78 during trading on Monday, hitting $134.97. 169,695 shares of the stock traded hands, compared to its average volume of 90,296. Ubiquiti has a 1 year low of $103.00 and a 1 year high of $189.52. The firm's 50 day moving average is $111.77 and its two-hundred day moving average is $119.95. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 23.28 and a beta of 1.22.

Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.93 by ($0.57). The company had revenue of $464.95 million for the quarter, compared to analysts' expectations of $488.56 million. Ubiquiti had a net margin of 18.30% and a negative return on equity of 539.53%. As a group, analysts anticipate that Ubiquiti will post 6.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Ubiquiti

A number of institutional investors and hedge funds have recently made changes to their positions in UI. Barclays PLC boosted its stake in shares of Ubiquiti by 2,815.6% in the third quarter. Barclays PLC now owns 7,872 shares of the company's stock worth $1,145,000 after acquiring an additional 7,602 shares during the period. Trexquant Investment LP purchased a new stake in Ubiquiti during the 3rd quarter valued at approximately $409,000. Charles Schwab Investment Management Inc. raised its position in shares of Ubiquiti by 104.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,910 shares of the company's stock valued at $4,491,000 after buying an additional 15,798 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Ubiquiti in the fourth quarter worth $437,000. Finally, CWM LLC lifted its holdings in shares of Ubiquiti by 42.7% in the fourth quarter. CWM LLC now owns 942 shares of the company's stock worth $131,000 after buying an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

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.