Credit Suisse began coverage on shares of Ubiquiti Networks (NASDAQ:UBNT) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm issued a neutral rating and a $33.00 price objective on the stock.
"We believe that Ubiquiti has created a relatively unique business model that can disrupt several markets in the networking space over time. However, we believe shares are fully valued, with strong near-term revenue momentum offset by medium-term competitive risks and possible margin pressure. In the near term, we see possible upside to our revenue projections of $501mn for FY14 and $610mn for FY15, which are above consensus expectations. First, airMAX (65% of revenues) could see a continued rebound, given pent-up demand and the large opportunity in the WISP market. Second, UniFi is gaining traction in the WLAN segment. While the company's ambition to be number one in unit terms may appear lofty, achieving this could add a further $180mn in revenues, or 30% to our estimates for FY15.," the firm's analyst commented.
A number of other firms have also recently commented on UBNT. Analysts at Wunderlich raised their price target on shares of Ubiquiti Networks (NASDAQ:UBNT) from $33.00 to $40.00 in a research note to investors on Monday, August 26th. They now have a buy rating on the stock. Separately, analysts at Craig Hallum initiated coverage on shares of Ubiquiti Networks (NASDAQ:UBNT) in a research note to investors on Wednesday, August 21st. They set a buy rating on the stock. Finally, analysts at Zacks upgraded shares of Ubiquiti Networks (NASDAQ:UBNT) from a neutral rating to an outperform rating in a research note to investors on Tuesday, August 13th. They now have a $28.40 price target on the stock.
Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Ubiquiti Networks currently has an average rating of Buy and an average target price of $29.95.
Shares of Ubiquiti Networks ( NASDAQ:UBNT) traded down 4.23% during mid-day trading on Wednesday, hitting $31.22. The stock had a trading volume of 333,973 shares. Ubiquiti Networks has a 1-year low of $9.97 and a 1-year high of $37.40. The stock's 50-day moving average is $29.9 and its 200-day moving average is $19.96. The company has a market cap of $2.721 billion and a P/E ratio of 36.63.
In other Ubiquiti Networks news, major shareholder Peter Chung unloaded 13,000,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $33.00, for a total value of $429,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Ubiquiti Networks, Inc ( NASDAQ:UBNT) is a communications technology Company.
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