Barclays Lowers Ubiquiti (NYSE:UI) Price Target to $93.00

Ubiquiti (NYSE:UIGet Free Report) had its price target decreased by investment analysts at Barclays from $105.00 to $93.00 in a report issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price indicates a potential downside of 27.23% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. BWS Financial decreased their price objective on Ubiquiti from $375.00 to $160.00 and set a “buy” rating for the company in a report on Monday, November 6th. StockNews.com cut Ubiquiti from a “hold” rating to a “sell” rating in a report on Monday, February 5th.

Check Out Our Latest Research Report on Ubiquiti

Ubiquiti Stock Up 9.0 %

Ubiquiti stock traded up $10.50 during mid-day trading on Monday, hitting $127.80. 59,061 shares of the company’s stock were exchanged, compared to its average volume of 85,958. The company’s 50 day simple moving average is $130.18 and its 200-day simple moving average is $137.12. Ubiquiti has a fifty-two week low of $103.00 and a fifty-two week high of $289.22. The firm has a market capitalization of $7.73 billion, a P/E ratio of 20.70 and a beta of 1.31.

Institutional Investors Weigh In On Ubiquiti

A number of institutional investors have recently made changes to their positions in UI. JPMorgan Chase & Co. raised its position in shares of Ubiquiti by 23.1% in the first quarter. JPMorgan Chase & Co. now owns 12,068 shares of the company’s stock valued at $3,514,000 after buying an additional 2,263 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Ubiquiti by 14.6% in the first quarter. HighTower Advisors LLC now owns 2,189 shares of the company’s stock valued at $638,000 after buying an additional 279 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Ubiquiti in the first quarter valued at approximately $254,000. Citigroup Inc. raised its position in shares of Ubiquiti by 2.4% in the first quarter. Citigroup Inc. now owns 2,723 shares of the company’s stock valued at $793,000 after buying an additional 64 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Ubiquiti by 14.5% in the first quarter. Bank of Montreal Can now owns 1,049 shares of the company’s stock valued at $309,000 after buying an additional 133 shares in the last quarter. Institutional investors own 3.54% of the company’s stock.

Ubiquiti Company Profile

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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.

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