Ubiquiti Networks (NASDAQ:UBNT) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday, August 23rd.

Several other brokerages also recently issued reports on UBNT. Credit Suisse Group set a $73.00 price target on Ubiquiti Networks and gave the stock a “hold” rating in a report on Wednesday, July 18th. Zacks Investment Research downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. ValuEngine downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th. BMO Capital Markets reiterated a “market perform” rating and set a $74.00 price target on shares of Ubiquiti Networks in a report on Friday, May 11th. Finally, TheStreet upgraded Ubiquiti Networks from a “c+” rating to a “b+” rating in a report on Wednesday, May 23rd. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $78.35.

Shares of NASDAQ:UBNT traded up $0.72 during trading on Thursday, reaching $97.76. 606,534 shares of the stock were exchanged, compared to its average volume of 441,820. The company has a quick ratio of 7.96, a current ratio of 8.87 and a debt-to-equity ratio of 1.46. Ubiquiti Networks has a 1-year low of $47.78 and a 1-year high of $98.83. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.52 and a beta of 1.16.

Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Friday, August 24th. The Wireless communications provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Ubiquiti Networks had a return on equity of 69.24% and a net margin of 19.30%. The company had revenue of $269.80 million for the quarter, compared to analyst estimates of $256.03 million. During the same period in the prior year, the firm earned $0.75 earnings per share. Ubiquiti Networks’s revenue for the quarter was up 18.0% on a year-over-year basis. equities research analysts anticipate that Ubiquiti Networks will post 3.4 earnings per share for the current fiscal year.

In other Ubiquiti Networks news, VP Benjamin Moore sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $87.91, for a total value of $8,791,000.00. Following the completion of the transaction, the vice president now owns 673,206 shares in the company, valued at approximately $59,181,539.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 70.34% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Daiwa SB Investments Ltd. grew its stake in Ubiquiti Networks by 57.6% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 45,994 shares of the Wireless communications provider’s stock valued at $3,897,000 after purchasing an additional 16,815 shares during the period. GVO Asset Management Ltd grew its stake in shares of Ubiquiti Networks by 36.2% during the 2nd quarter. GVO Asset Management Ltd now owns 51,500 shares of the Wireless communications provider’s stock worth $4,363,000 after acquiring an additional 13,700 shares during the period. Barings LLC bought a new position in shares of Ubiquiti Networks during the 2nd quarter worth $1,169,000. Acadian Asset Management LLC bought a new position in shares of Ubiquiti Networks during the 2nd quarter worth $1,935,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Ubiquiti Networks during the 2nd quarter worth $198,000. Hedge funds and other institutional investors own 26.06% of the company’s stock.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

Featured Story: Compound Annual Growth Rate (CAGR)

Receive News & Ratings for Ubiquiti Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks and related companies with MarketBeat.com's FREE daily email newsletter.