Aerohive Networks Inc. (NYSE:HIVE) has earned a consensus recommendation of “Hold” from the nine research firms that are covering the firm. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.08.

Several research analysts have issued reports on the stock. Wunderlich lowered shares of Aerohive Networks from a “buy” rating to a “hold” rating and decreased their price target for the stock from $8.00 to $5.00 in a research report on Friday, October 14th. Piper Jaffray Cos. restated an “overweight” rating and issued a $7.50 price target (up previously from $7.20) on shares of Aerohive Networks in a research report on Friday, August 5th. Buckingham Research lowered shares of Aerohive Networks from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.00 to $5.00 in a research report on Friday, October 14th. Zacks Investment Research lowered shares of Aerohive Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $6.00 price target (down previously from $7.00) on shares of Aerohive Networks in a research report on Saturday, October 15th.

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Shares of Aerohive Networks (NYSE:HIVE) opened at 5.53 on Friday. Aerohive Networks has a 12-month low of $4.08 and a 12-month high of $7.45. The stock’s 50 day moving average price is $5.42 and its 200-day moving average price is $6.27. The firm’s market capitalization is $241.14 million.

Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The firm had revenue of $40.40 million for the quarter, compared to analyst estimates of $40 million. Aerohive Networks had a negative net margin of 21.26% and a negative return on equity of 107.34%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) earnings per share. On average, equities analysts expect that Aerohive Networks will post ($0.28) EPS for the current year.

Several large investors have recently modified their holdings of the stock. Highbridge Capital Management LLC bought a new stake in shares of Aerohive Networks during the third quarter worth about $141,000. D. E. Shaw & Co. Inc. raised its stake in shares of Aerohive Networks by 43.1% in the third quarter. D. E. Shaw & Co. Inc. now owns 247,322 shares of the company’s stock worth $1,506,000 after buying an additional 74,550 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Aerohive Networks during the third quarter worth about $117,000. United Services Automobile Association raised its stake in shares of Aerohive Networks by 10.9% in the third quarter. United Services Automobile Association now owns 568,890 shares of the company’s stock worth $3,465,000 after buying an additional 56,000 shares during the period. Finally, SECOR Capital Advisors LP bought a new stake in shares of Aerohive Networks during the third quarter worth about $374,000. 57.15% of the stock is owned by institutional investors.

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.

5 Day Chart for NYSE:HIVE

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