Ubiquiti Networks Inc (UBNT) is Upgraded by BMO Capital Markets to Market Perform, Raises Price Target to $ 37

Ubiquiti Networks Inc (UBNT) was Upgraded by BMO Capital Markets to ” Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 37 from a previous price target of $30 . Earlier the firm had a rating of “Underperform ” on the company shares. BMO Capital Markets advised their investors in a research report released on May 6, 2016.

Many Wall Street Analysts have commented on Ubiquiti Networks Inc. Company shares were Reiterated by Wunderlich on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $40 .

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 Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband wireless backhaul systems and routing. The Company’s 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.

Ubiquiti Networks Inc

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