Vetr cut shares of Ubiquiti Networks (NASDAQ:UBNT) from a hold rating to a sell rating in a research note published on Thursday, January 4th. They currently have $71.07 price target on the Wireless communications provider’s stock.

Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Ubiquiti Networks from a buy rating to a hold rating in a report on Thursday, November 16th. ValuEngine downgraded shares of Ubiquiti Networks from a buy rating to a hold rating in a report on Thursday, November 16th. BMO Capital Markets lowered their target price on shares of Ubiquiti Networks from $66.00 to $60.00 and set a positive rating on the stock in a report on Friday, November 10th. BidaskClub raised shares of Ubiquiti Networks from a buy rating to a strong-buy rating in a report on Tuesday, December 19th. Finally, JMP Securities reaffirmed a market perform rating on shares of Ubiquiti Networks in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ubiquiti Networks currently has a consensus rating of Hold and an average target price of $62.95.

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Ubiquiti Networks (UBNT) opened at $81.49 on Thursday. The company has a market cap of $6,360.00, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 1.38 and a beta of 0.51. Ubiquiti Networks has a one year low of $45.71 and a one year high of $82.30.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings data on Thursday, November 9th. The Wireless communications provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The company had revenue of $245.90 million for the quarter, compared to analyst estimates of $240.39 million. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. Ubiquiti Networks’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. research analysts forecast that Ubiquiti Networks will post 3.08 EPS for the current fiscal year.

Ubiquiti Networks announced that its board has approved a share repurchase program on Thursday, November 9th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the Wireless communications provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the stock. Woodstock Corp boosted its holdings in Ubiquiti Networks by 7.9% during the fourth quarter. Woodstock Corp now owns 65,517 shares of the Wireless communications provider’s stock worth $4,653,000 after buying an additional 4,790 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Ubiquiti Networks by 3.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 147,633 shares of the Wireless communications provider’s stock worth $10,485,000 after buying an additional 4,928 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Ubiquiti Networks by 5.3% during the third quarter. California Public Employees Retirement System now owns 90,460 shares of the Wireless communications provider’s stock worth $5,068,000 after buying an additional 4,560 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Ubiquiti Networks during the third quarter worth about $1,046,000. Finally, Jackson Square Partners LLC boosted its holdings in Ubiquiti Networks by 21.1% during the third quarter. Jackson Square Partners LLC now owns 1,316,083 shares of the Wireless communications provider’s stock worth $73,726,000 after buying an additional 228,986 shares in the last quarter. 33.83% of the stock is currently owned by hedge funds and other institutional investors.

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About Ubiquiti Networks

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

To view Vetr’s full report, visit Vetr’s official website.

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