NEW YORK (TheStreet) -- Ubiquiti Networks (UBNT) stock is up by 17.39% to $32.95 on heavy trading volume on Friday morning, after the company reported better-than-expected fiscal 2016 second quarter earnings results.
After the market close on Thursday, the networking technology company reported earnings of 58 cents per share, while analysts were estimating for earnings of 51 cents per share.
Revenue of $161.9 million topped analysts' forecasts for revenue of $155.08 million.
Additionally, the company projected 2016 third quarter earnings between 53 cents per share and 60 cents per share on revenue between $160 million and $170 million.
So far today, 2.87 million shares of Ubiquiti have traded, versus the company's 30-day trading average of about 635,000 shares.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of B. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, expanding profit margins and increase in net income.
You can view the full analysis from the report here: UBNT