Auriga Reiterates a 'Buy' on Ubiquiti Networks (UBNT); Trends Remain Robust

May 17, 2012 2:36 PM EDT
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Price: $59.69 --0%

Rating Summary:
    5 Buy, 14 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Auriga reiterates a 'Buy' on Ubiquiti Networks (NASDAQ: UBNT) price target of $35.00.

Analyst, Kevin Dede, said, "Where continued economic and political unrest in Europe has had a hand in depressing U.S. equity valuations, we think it is critical to differentiate companies that have exposure, and those that do not. Ubiquiti has great exposure to smaller scale wireless Internet access networks deployed in Eastern Europe, but little business in Western Europe that appears to be the boiling caldron of uncertainty, and the company has made the point that spending on its equipment has not diminished the outlook since offered during its discussion of the March quarter, where consolidated sales increased 79% to $91.7M on AirMax growth of 119% year over year to $62.0M. Furthermore, Ubiquiti's newer UniFi enterprise Wi-Fi product sales have increased dramatically, driving most of the $4.2M and $9.9M sales in the new product segment (shared with AirVision) in the December and March quarter, respectively."

For an analyst ratings summary and ratings history on Ubiquiti Networks click here. For more ratings news on Ubiquiti Networks click here.

Shares of Ubiquiti Networks closed at $20.90 yesterday.

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