"JMP Securities‘s Erik Suppiger, reiterating a Market Outperform rating, and a $53 price target, writing that perhaps some investors over-reacted to the block trade this morning:
We believe the stock is down today due to: 1) Summit Partners is marketing a block of 1.5 million shares, and 2) confusion related to the Ingram Micro relationship. Regarding Summit Partners, we believe Summit has nearly liquidated its entire position with just 800K shares left. Accordingly, we don’t expect it to create volatility in the stock as it has in the past.
Regarding Ingram, Suppiger wrote that the deal “will provide critical access to enterprise resellers – a channel that UBNT needs to develop as it grows its WLAN business – and reflects Ubiquiti’s progress in refining its logistics operations.”"
this is a "spot on" article on one of the best young companies still flying under the radar, no worries about this company till the main stream media starts to talk about it's greatness on a everyday basis. Robert Pera brings me to the 70's U-tube video by Mo Bandy-" Americana", thats what I think of when I think of this company that anything is possible in this great country we call the USA, play this video and see if it moves you. GLTA