Aerohive Networks Given Consensus Rating of “Buy” by Brokerages (NASDAQ:HIVE)
Shares of Aerohive Networks (NASDAQ:HIVE) have received a consensus recommendation of “Buy” from the eight analysts that are covering the company, American Banking & Market News reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $13.40.
A number of research firms have recently commented on HIVE. Analysts at BofA Merrill Lynch reiterated a “buy” rating on shares of Aerohive Networks in a research note on Saturday, May 17th. They now have a $13.00 price target on the stock. Separately, analysts at JMP Securities reiterated an “outperform” rating on shares of Aerohive Networks in a research note on Friday, May 16th. They now have a $14.00 price target on the stock. Finally, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Aerohive Networks in a research note on Friday, May 16th. They now have a $14.00 price target on the stock.
Aerohive Networks (NASDAQ:HIVE) traded down 1.11% during mid-day trading on Wednesday, hitting $9.78. 37,700 shares of the company’s stock traded hands. Aerohive Networks has a one year low of $8.00 and a one year high of $12.23. The stock has a 50-day moving average of $9.82 and a 200-day moving average of $9.99. The company’s market cap is $426.5 million.
Aerohive Networks (NASDAQ:HIVE) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.97) earnings per share for the quarter, beating the analysts’ consensus estimate of ($1.32) by $0.35. The company had revenue of $28.20 million for the quarter, compared to the consensus estimate of $26.08 million. Aerohive Networks’s revenue was up 42.4% compared to the same quarter last year. On average, analysts predict that Aerohive Networks will post $-0.55 earnings per share for the current fiscal year.
Aerohive Networks, Inc has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge.
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