Deutsche Bank lowered its rating on Ubiquiti Networks UBNT from Buy to Hold, and reduced its price target from $30 to $12.
Deutsche Bank commented, "Ubiquiti Networks reported Q4 revenues of $94.9mln, ahead of our estimate of $94.8mln and consensus of $94.5mln. Pro-forma EPS of $0.30 came in ahead of our estimate and consensus of $0.28. However, the guide was disappointing, missing both revenues and pro forma EPS by a wide margin. Overall, we were disappointed by the guide and feel there is long-term risk surrounding the counterfeiting issues with the AirMax platform."
Ubiquiti Networks closed at $15.01 on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in