Ubiquiti (NYSE:UI) Given Hold (C+) Rating at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "hold (C+)" rating for Ubiquiti (NYSE:UI), reflecting a cautious stance on the stock.
• Ubiquiti's stock recently saw a price increase of 1.8%, reaching $684.16, with a consensus target price of $499.67.
• In its latest earnings report, Ubiquiti posted an EPS of $3.54, significantly beating expectations of $2.23, with revenues of $759.15 million.

Ubiquiti (NYSE:UI - Get Free Report)'s stock had its "hold (c+)" rating reiterated by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also recently weighed in on the stock. UBS Group set a $600.00 price target on shares of Ubiquiti in a research report on Monday, August 25th. Barclays upped their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research report on Friday, August 22nd. Finally, BWS Financial upped their price objective on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $499.67.

Ubiquiti Stock Up 1.8%

Shares of NYSE UI traded up $12.34 during trading on Wednesday, hitting $684.16. 101,013 shares of the company traded hands, compared to its average volume of 124,075. Ubiquiti has a 1 year low of $230.98 and a 1 year high of $691.52. The company has a 50-day moving average price of $545.30 and a 200-day moving average price of $433.27. The firm has a market capitalization of $41.39 billion, a P/E ratio of 58.08 and a beta of 1.44.

Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.31. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The company had revenue of $759.15 million during the quarter, compared to analysts' expectations of $618.80 million. During the same period in the previous year, the company earned $1.74 EPS. Research analysts predict that Ubiquiti will post 7.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Ubiquiti

Institutional investors and hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in Ubiquiti during the first quarter worth about $25,000. Brooklyn Investment Group raised its stake in Ubiquiti by 78.8% during the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after acquiring an additional 41 shares during the period. Cullen Frost Bankers Inc. raised its stake in Ubiquiti by 1,075.0% during the second quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company's stock worth $39,000 after acquiring an additional 86 shares during the period. Main Street Group LTD acquired a new stake in Ubiquiti during the second quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC bought a new position in Ubiquiti in the 2nd quarter worth about $54,000. Institutional investors and hedge funds 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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