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Ubiquiti (UBNT +21.2%) hits levels last seen 12 months ago after beating Q1 estimates and...

Ubiquiti (UBNT +21.2%) hits levels last seen 12 months ago after beating Q1 estimates and guiding for Q2 revenue of $90M-$96M and EPS of $0.26-$0.29 - that's above a consensus of $86.2M and $0.23. 32% of the float was shorted as of April 30. Raymond James has upgraded shares to Outperform, and Pac Crest is "encouraged by improving visibility and balance-sheet metrics" following a dismal 2012 featuring bad guidance, counterfeit product issues, inventory issues, and a few other things. On the earnings call, CEO/Memphis Grizzlies owner Robert Pera mentioned sales of Ubiquiti's airMAX wireless transmission systems rose 14% Q/Q.
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