Aerohive Networks Inc. (HIVE) Given “Neutral” Rating at Goldman Sachs Group Inc.
Aerohive Networks Inc. (NYSE:HIVE)‘s stock had its “neutral” rating reaffirmed by Goldman Sachs Group Inc. in a report released on Saturday. They currently have a $6.00 price objective on the stock, down from their prior price objective of $7.00. Goldman Sachs Group Inc.’s target price would suggest a potential upside of 8.30% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Aerohive Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. JMP Securities dropped their price target on shares of Aerohive Networks from $10.00 to $9.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 4th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $7.50 price target (up previously from $7.20) on shares of Aerohive Networks in a research note on Friday, August 5th. William Blair reiterated an “outperform” rating on shares of Aerohive Networks in a research note on Friday. Finally, Buckingham Research cut shares of Aerohive Networks from a “buy” rating to a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Aerohive Networks presently has a consensus rating of “Hold” and an average price target of $7.00.
Aerohive Networks (NYSE:HIVE) traded down 1.60% on Friday, reaching $5.54. The company had a trading volume of 1,679,500 shares. Aerohive Networks has a 12-month low of $4.08 and a 12-month high of $7.48. The stock’s 50 day moving average price is $6.19 and its 200-day moving average price is $6.32. The stock’s market capitalization is $241.58 million.
Aerohive Networks (NYSE:HIVE) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. Aerohive Networks had a negative net margin of 21.86% and a negative return on equity of 106.44%. The business earned $47.63 million during the quarter, compared to the consensus estimate of $47.44 million. During the same quarter in the previous year, the firm posted ($0.14) EPS. The firm’s revenue was up 29.3% on a year-over-year basis. Equities analysts expect that Aerohive Networks will post ($0.18) earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in HIVE. Prudential Financial Inc. bought a new stake in shares of Aerohive Networks during the second quarter worth about $102,000. Rhumbline Advisers increased its stake in shares of 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 in the last quarter. DIAM Co. Ltd. bought a new stake in shares of Aerohive Networks during the second quarter worth about $163,000. A.R.T. Advisors LLC bought a new stake in shares of Aerohive Networks during the second quarter worth about $168,000. Finally, Strs Ohio increased its stake in shares of 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 in the last quarter. Institutional investors own 46.95% of the company’s stock.
Aerohive Networks Company Profile
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.
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