Ubiquiti Networks (UI – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Hamed Khorsand from BWS Financial maintained a Buy rating on the stock and has a $440.00 price target.
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Hamed Khorsand has given his Buy rating due to a combination of factors that highlight Ubiquiti Networks’ strong financial performance and strategic advancements. The company has consistently exceeded expectations, with the release of new products driving a significant increase in revenue. In the fiscal third quarter, Ubiquiti’s revenue was notably higher than anticipated, reflecting a robust business momentum.
Additionally, Ubiquiti has successfully introduced numerous new products and maintained sufficient inventory levels to meet customer demand. The enhancements made to their website have been positively received, contributing to a growing portion of revenue being generated online. The company’s impressive growth trajectory is further supported by its ability to generate substantial free cash flow, resulting in an unlevered balance sheet. These factors collectively underpin Khorsand’s optimistic outlook and Buy rating for Ubiquiti Networks.