Ubiquiti Networks Inc (UBNT) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 43 from a previous price target of $40 . Wunderlich advised their investors in a research report released on May 6, 2016.
On the company’s financial health, Ubiquiti Networks Inc reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.56. The company had revenue of $167.40 million for the quarter, compared to analysts expectations of $164.35 million. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
Ubiquiti Networks Inc closed down -0.31 points or -0.88% at $34.95 with 3,86,765 shares getting traded on Wednesday. Post opening the session at $35.16, the shares hit an intraday low of $34.6 and an intraday high of $35.25 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Feb 11, 2015, Craig L Foster (Chief Financial Officer) sold 7,044 shares at $29.73 per share price.
Ubiquiti Networks Inc. develops high performance networking technology for service providers and enterprises. The Companys technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband wireless backhaul systems and routing. The Companys technology platforms for enterprises enable wireless local area network (WLAN) infrastructure video surveillance products and machine-to-machine communications. The Company offers products and solutions based on its proprietary technology with disruptive price-performance characteristics across multiple markets.