Ubiquiti (NYSE:UI) Stock Gets Price Target Increase from Barclays

Ubiquiti (NYSE:UI) had its target price raised by investment analysts at Barclays from $489.00 to $537.00 in a report issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 16.64% from the stock’s current price.

A number of other equities analysts also recently issued reports on UI. Weiss Ratings lowered shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Zacks Research raised shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a report on Friday, September 18th. Finally, BWS Financial reiterated a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a research report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $758.50.

Ubiquiti Price Performance

Ubiquiti stock traded up $51.33 during mid-day trading on Monday, reaching $644.17. 32,726 shares of the stock traded hands, compared to its average volume of 116,932. The stock has a market capitalization of $38.97 billion, a PE ratio of 36.35 and a beta of 1.34. The business’s 50-day moving average is $586.72 and its 200-day moving average is $657.17. Ubiquiti has a 12-month low of $500.23 and a 12-month high of $1,099.99.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, November 6th. The company reported $5.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.25 by $1.07. Ubiquiti had a return on equity of 87.95% and a net margin of 30.08%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $977.45 million. Equities analysts anticipate that Ubiquiti will post 16.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Ubiquiti

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UI. Vision Retirement LLC bought a new position in shares of Ubiquiti in the first quarter worth approximately $25,000. Fortitude Family Office LLC raised its position in shares of Ubiquiti by 109.5% during the 3rd quarter. Fortitude Family Office LLC now owns 44 shares of the company’s stock valued at $25,000 after purchasing an additional 23 shares during the period. Compass Financial Management LLC purchased a new position in shares of Ubiquiti during the 2nd quarter valued at $35,000. Pinnacle Holdings LLC purchased a new position in shares of Ubiquiti during the 2nd quarter valued at $49,000. Finally, CX Institutional purchased a new position in shares of Ubiquiti during the 3rd quarter valued at $51,000. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Company Profile

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, switches and broadband wireless equipment, along with network management software and security devices such as cameras and access control systems.

The company markets products under brands including UniFi, airMAX, EdgeMAX and AmpliFi. Its UniFi platform brings together networking, video surveillance and access control products with centralized management tools.

Founded in 2003 by Robert Pera, Ubiquiti serves customers globally through distributors, online channels and retail partners.