Aerohive Networks Inc. (HIVE) Rating Lowered to Hold at Wunderlich
Aerohive Networks Inc. (NYSE:HIVE) was downgraded by Wunderlich from a “buy” rating to a “hold” rating in a note issued to investors on Friday. They presently have a $5.00 target price on the stock, down from their prior target price of $8.00. Wunderlich’s price target points to a potential downside of 6.37% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Tuesday, August 9th. JMP Securities dropped their target price on shares of 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. Buckingham Research downgraded shares of Aerohive Networks from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.00 to $5.00 in a research report on Friday. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $7.50 target price (up previously from $7.20) on shares of Aerohive Networks in a research report on Friday, August 5th. One equities research 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. The company currently has a consensus rating of “Hold” and a consensus price target of $6.63.
Shares of Aerohive Networks (NYSE:HIVE) opened at 5.34 on Friday. The firm has a 50-day moving average of $6.14 and a 200-day moving average of $6.34. Aerohive Networks has a 52 week low of $4.08 and a 52 week high of $7.48. The firm’s market cap is $232.86 million.
Aerohive Networks (NYSE:HIVE) last released its earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $47.63 million for the quarter, compared to the consensus estimate of $47.44 million. During the same quarter in the previous year, the company earned ($0.14) EPS. Aerohive Networks’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, analysts expect that Aerohive Networks will post ($0.18) EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. Creative Planning raised its stake in Aerohive Networks by 0.4% in the third quarter. Creative Planning now owns 204,187 shares of the company’s stock valued at $1,243,000 after buying an additional 722 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Aerohive Networks by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 62,437 shares of the company’s stock valued at $414,000 after buying an additional 1,008 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in Aerohive Networks during the second quarter valued at about $168,000. Murphy Michael R raised its stake in Aerohive Networks by 12.4% in the second quarter. Murphy Michael R now owns 4,354,385 shares of the company’s stock valued at $28,826,000 after buying an additional 479,740 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Aerohive Networks during the second quarter valued at about $208,000. Hedge funds and other institutional investors own 46.90% 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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