In a report released today, Hamed Khorsand from BWS Financial maintained a Buy rating on Ubiquiti Networks, with a price target of $440.00.
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Hamed Khorsand has given his Buy rating due to a combination of factors that suggest a positive outlook for Ubiquiti Networks. The company has recently completed its fiscal fourth quarter in a manner that suggests potential for an upside surprise, driven by strong demand momentum following product upgrades. Ubiquiti’s introduction of new products, such as ethernet switches, has been pivotal in maintaining customer interest and driving revenue growth.
Another factor contributing to the Buy rating is Ubiquiti’s diverse revenue streams, with less than half of its revenue coming from North America. This geographical diversity, coupled with a weaker US Dollar in the second quarter, is expected to further boost revenue growth. Additionally, Khorsand has updated his revenue and EPS forecasts, reflecting a more optimistic view of the company’s financial performance in the upcoming periods.