Ubiquiti Networks Inc (UBNT) is Reiterated by Wunderlich to Buy, Raises Price Target to $ 55

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 $ 55 from a previous price target of $48 . Wunderlich advised their investors in a research report released on Aug 5, 2016.

On the company’s financial health, Ubiquiti Networks Inc reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.64. The company had revenue of $185.70 million for the quarter, compared to analysts expectations of $174.47 million. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Ubiquiti Networks Inc opened for trading at $44.38 and hit $45.74 on the upside on Thursday, eventually ending the session at $45.06, with a gain of 1.14% or 0.51 points. The heightened volatility saw the trading volume jump to 8,15,310 shares. Company has a market cap of $3,736 M.

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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