Barclays Forecasts Strong Price Appreciation for Ubiquiti (NYSE:UI) Stock

Ubiquiti (NYSE:UI) had its price target raised by analysts at Barclays from $247.00 to $299.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price would indicate a potential downside of 41.21% from the stock’s previous close.

Separately, BWS Financial reiterated a “buy” rating and issued a $440.00 target price on shares of Ubiquiti in a research note on Friday, July 11th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $369.50.

Ubiquiti Trading Up 30.2%

Shares of UI stock opened at $508.5990 on Friday. The company has a market cap of $30.77 billion, a PE ratio of 43.21 and a beta of 1.35. The company’s fifty day simple moving average is $423.25 and its 200-day simple moving average is $372.66. Ubiquiti has a 52 week low of $165.50 and a 52 week high of $514.00.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.31. Ubiquiti had a return on equity of 217.49% and a net margin of 23.65%.The firm had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. During the same period in the prior year, the firm earned $1.74 EPS. Equities research analysts expect that Ubiquiti will post 7.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Ubiquiti

Hedge funds and other institutional investors have recently bought and sold shares of the business. SW Investment Management LLC raised its position in shares of Ubiquiti by 7.4% in the 1st quarter. SW Investment Management LLC now owns 290,000 shares of the company’s stock valued at $89,941,000 after purchasing an additional 20,000 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Ubiquiti by 133.9% in the first quarter. AQR Capital Management LLC now owns 232,015 shares of the company’s stock worth $70,521,000 after buying an additional 132,816 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Ubiquiti by 24.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 111,216 shares of the company’s stock valued at $45,782,000 after acquiring an additional 21,547 shares in the last quarter. TD Asset Management Inc bought a new position in Ubiquiti during the 1st quarter valued at $34,013,000. Finally, Pacer Advisors Inc. boosted its stake in Ubiquiti by 76.2% during the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company’s stock valued at $33,785,000 after acquiring an additional 47,109 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

About Ubiquiti

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.