Aerohive Networks Inc. (HIVE) Lowered to “Sell” 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. “
A number of other research firms also recently issued reports on HIVE. Goldman Sachs Group Inc. reiterated a neutral rating and issued a $6.00 target price (down previously from $7.00) on shares of Aerohive Networks in a research report on Saturday. William Blair restated an outperform rating on shares of Aerohive Networks in a research note on Friday, October 14th. Wunderlich lowered shares of Aerohive Networks from a buy rating to a hold rating and dropped their price target for the stock from $8.00 to $5.00 in a research note on Friday, October 14th. 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. Finally, Piper Jaffray Cos. restated 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $6.63.
Aerohive Networks (NYSE:HIVE) opened at 5.30 on Tuesday. Aerohive Networks has a one year low of $4.08 and a one year high of $7.48. The firm has a 50-day moving average of $6.10 and a 200-day moving average of $6.35. The firm’s market cap is $231.11 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, 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 company earned $47.63 million during the quarter, compared to the consensus estimate of $47.44 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The company’s revenue was up 29.3% compared to the same quarter last year. Analysts anticipate that Aerohive Networks will post ($0.18) EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of HIVE. Menta Capital LLC raised its position in Aerohive Networks by 190.0% in the first quarter. Menta Capital LLC now owns 63,128 shares of the company’s stock worth $315,000 after buying an additional 41,360 shares during the last quarter. State Street Corp raised its position in Aerohive Networks by 14.1% in the first quarter. State Street Corp now owns 222,932 shares of the company’s stock worth $1,107,000 after buying an additional 27,514 shares during the last quarter. Royce & Associates LP raised its position in Aerohive Networks by 15.4% in the first quarter. Royce & Associates LP now owns 75,000 shares of the company’s stock worth $374,000 after buying an additional 10,000 shares during the last quarter. Granahan Investment Management Inc. MA raised its position in Aerohive Networks by 17.4% in the first quarter. Granahan Investment Management Inc. MA now owns 1,613,104 shares of the company’s stock worth $8,049,000 after buying an additional 239,630 shares during the last quarter. Finally, Murphy Michael R raised its position in Aerohive Networks by 4.2% in the first quarter. Murphy Michael R now owns 3,874,645 shares of the company’s stock worth $19,334,000 after buying an additional 155,286 shares during the last quarter. Institutional investors and hedge funds own 46.90% 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.
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