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Why Ubiquiti Rocketed 25% Higher Today

TheMotleyFool 
0 0 22.08.25
Why Ubiquiti Rocketed 25% Higher Today
 

Shares of Ubiquiti (NYSE: UI) had rocketed 25.7% on Friday as of 11:47 AM ET.

The company, which makes a variety of wireless broadband equipment and access points, reported fourth-quarter earnings this morning. Results crushed analysts' expectations, thereby appearing to justify Ubiquiti's high valuation.

Ubiquiti doesn't disclose much beyond what it has to and doesn't host earnings calls with sell-side analysts anymore, given that founder and CEO Robert Pera owns some 93% of the company's shares outstanding.

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Source Fool.com

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