Barclays Raises Ubiquiti (NYSE:UI) Price Target to $247.00

Ubiquiti (NYSE:UI - Get Free Report) had its price target lifted by research analysts at Barclays from $222.00 to $247.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Barclays's target price suggests a potential downside of 43.28% from the stock's current price.

Separately, BWS Financial reissued a "buy" rating and set a $440.00 price target on shares of Ubiquiti in a research note on Monday, May 12th.

Ubiquiti Price Performance

Shares of Ubiquiti stock traded up $14.68 during midday trading on Monday, hitting $435.45. 87,114 shares of the company traded hands, compared to its average volume of 81,850. The firm's fifty day moving average price is $326.96 and its 200-day moving average price is $341.69. The stock has a market cap of $26.34 billion, a price-to-earnings ratio of 59.16 and a beta of 1.32. Ubiquiti has a 12 month low of $139.06 and a 12 month high of $469.98. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22.

Ubiquiti (NYSE:UI - Get Free Report) last posted its earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.12. Ubiquiti had a net margin of 20.68% and a return on equity of 296.82%. During the same quarter in the previous year, the firm earned $1.36 EPS. As a group, sell-side analysts forecast that Ubiquiti will post 7.21 earnings per share for the current year.

Hedge Funds Weigh In On Ubiquiti

Hedge funds have recently made changes to their positions in the stock. SW Investment Management LLC boosted its holdings in Ubiquiti by 7.4% in the first quarter. SW Investment Management LLC now owns 290,000 shares of the company's stock valued at $89,941,000 after acquiring an additional 20,000 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Ubiquiti by 133.9% in the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company's stock valued at $70,521,000 after purchasing an additional 132,816 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Ubiquiti by 1.2% during the fourth quarter. Renaissance Technologies LLC now owns 199,964 shares of the company's stock worth $66,374,000 after buying an additional 2,400 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Ubiquiti by 926.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after buying an additional 102,268 shares during the last quarter. Finally, TD Asset Management Inc bought a new position in Ubiquiti during the first quarter worth $34,013,000. 4.00% of the stock is currently owned by institutional investors.

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.