Ubiquiti price target lowered to $93 from $105 at Barclays

Barclays lowered the firm’s price target on Ubiquiti to $93 from $105 and keeps an Underweight rating on the shares. The company’s results came in lower than estimates, with Service Provider considerably weaker than expected, the analyst tells investors in a research note. The firm says Ubiquiti’s sequential margin deceleration continued, driven by higher shipping and product costs. It expects Enterprise to outperform Service Provider in the year.