Aerohive Networks Inc. (HIVE) Rating Lowered to Hold at Zacks Investment Research
According to Zacks, “Aerohive Networks Inc. designs and develops a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s cloud-managed mobile networking platform consists of four components: Cloud Services Platform, HiveOS operating system, client management software and its portfolio of hardware products. It serves the healthcare, education, manufacturing, distribution, and retail industries throughout the United States. Aerohive Networks, Inc. is headquartered in Sunnyvale, California. “
Several other equities research analysts also recently weighed in on the company. JMP Securities cut their price target on Aerohive Networks from $10.00 to $9.00 and set a market outperform rating on the stock in a research report on Thursday, August 4th. Wunderlich initiated coverage on Aerohive Networks in a research report on Wednesday, June 8th. They set a buy rating and a $8.00 price target on the stock. Finally, Piper Jaffray Cos. reaffirmed an overweight rating and set a $7.50 price target (up from $7.20) on shares of Aerohive Networks in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $7.57.
Shares of Aerohive Networks (NYSE:HIVE) opened at 5.94 on Wednesday. The stock’s market capitalization is $259.02 million. Aerohive Networks has a 52-week low of $4.08 and a 52-week high of $7.48. The company has a 50 day moving average price of $6.32 and a 200-day moving average price of $6.33.
Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. The company had revenue of $47.63 million for the quarter, compared to the consensus estimate of $47.44 million. Aerohive Networks had a negative return on equity of 106.44% and a negative net margin of 21.86%. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.14) EPS. On average, analysts predict that Aerohive Networks will post ($0.18) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Prudential Financial Inc. acquired a new stake in Aerohive Networks during the second quarter worth approximately $102,000. Rhumbline Advisers boosted its stake in Aerohive Networks by 4.1% in the second quarter. Rhumbline Advisers now owns 22,091 shares of the company’s stock worth $146,000 after buying an additional 875 shares during the period. DIAM Co. Ltd. acquired a new stake in Aerohive Networks during the second quarter worth approximately $163,000. A.R.T. Advisors LLC acquired a new stake in Aerohive Networks during the second quarter worth approximately $168,000. Finally, Strs Ohio boosted its stake in Aerohive Networks by 8.6% in the second quarter. Strs Ohio now owns 26,600 shares of the company’s stock worth $176,000 after buying an additional 2,100 shares during the period. Hedge funds and other institutional investors own 46.95% of the company’s stock.
About Aerohive Networks
Aerohive Networks, Inc, together with its subsidiaries, is engaged in designing and development of a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s portfolio of products and solutions is built around sets of technologies and capabilities, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Aerohive Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerohive Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.