JMP Securities analyst Erik Suppiger reiterated a Hold rating on Ubiquiti Networks (UBNT) on November 9. The company’s shares closed yesterday at $105.96, close to its 52-week high of $112.38.
According to TipRanks.com, Suppiger is a 5-star analyst with an average return of 16.2% and a 55.9% success rate. Suppiger covers the Consumer Goods sector, focusing on stocks such as Palo Alto Networks, Extreme Networks, and Pure Storage Inc.
Currently, the analyst consensus on Ubiquiti Networks is a Hold with an average price target of $84, implying a -20.7% downside from current levels. In a report released yesterday, Credit Suisse also reiterated a Hold rating on the stock with a $86 price target.
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Based on Ubiquiti Networks’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $85.7 million. In comparison, last year the company had a net profit of $74.93 million.
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Ubiquiti Networks, Inc. engages in the provision of equipment and related software services. It focuses on high performance proprietary technology; price disruptive offering; and integrated and easy to deploy and manage solutions.
