Barclays Increases Ubiquiti (NYSE:UI) Price Target to $236.00

Ubiquiti (NYSE:UI) had its price objective increased by equities researchers at Barclays from $104.00 to $236.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s target price points to a potential downside of 32.54% from the company’s previous close.

Several other brokerages have also weighed in on UI. StockNews.com lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. BWS Financial raised their price objective on shares of Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, August 26th.

Ubiquiti Trading Up 2.8 %

Shares of NYSE:UI opened at $349.82 on Monday. Ubiquiti has a 52-week low of $104.24 and a 52-week high of $352.90. The company has a debt-to-equity ratio of 7.05, a quick ratio of 1.59 and a current ratio of 3.22. The company has a market capitalization of $21.15 billion, a P/E ratio of 54.15 and a beta of 1.13. The company has a 50-day simple moving average of $234.00 and a 200 day simple moving average of $182.44.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). The business had revenue of $507.50 million during the quarter, compared to analyst estimates of $538.23 million. Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Ubiquiti will post 7.09 earnings per share for the current year.

Institutional Trading of Ubiquiti

Hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank increased its holdings in shares of Ubiquiti by 267.6% during the third quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after purchasing an additional 91 shares during the period. Raleigh Capital Management Inc. bought a new position in Ubiquiti during the 3rd quarter worth $47,000. nVerses Capital LLC acquired a new position in Ubiquiti in the 2nd quarter valued at $44,000. Hanseatic Management Services Inc. bought a new stake in shares of Ubiquiti during the 3rd quarter valued at $76,000. Finally, Covestor Ltd grew its holdings in shares of Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Company Profile

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.