Why Ubiquiti Stock Dived by 10% Today

A post-earnings price target cut didn't do the company any favors. Wireless networking equipment and solutions specialist Ubiquiti (UI -10.22%) suffered a double-digit drop in its share price on the second trading day of the week. This wasn't due to any news coming directly from the company; rather, the stock was influenced by an analyst's latest take. This helped drive Ubiquiti's price down by over 10% on the day, against the S&P 500 index's gain of 0.2%. Time for a price target trim Well before market ope ...