Aerohive Networks Coverage Initiated at Pacific Crest (HIVE)
Pacific Crest assumed coverage on shares of Aerohive Networks (NASDAQ:HIVE) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $12.00 price target on the stock. Pacific Crest’s target price indicates a potential upside of 42.69% from the stock’s previous close.
Aerohive Networks (NASDAQ:HIVE) traded up 4.99% on Wednesday, hitting $8.41. 88,244 shares of the company’s stock traded hands. Aerohive Networks has a 1-year low of $7.43 and a 1-year high of $12.23. The stock’s 50-day moving average is $8.42 and its 200-day moving average is $9.35. The company’s market cap is $366.7 million.
Aerohive Networks (NASDAQ:HIVE) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.97) EPS for the quarter, beating the Thomson Reuters 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. The company’s quarterly revenue was up 42.4% on a year-over-year basis. Analysts expect that Aerohive Networks will post $-0.57 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Buckingham Research initiated coverage on shares of Aerohive Networks in a research note on Wednesday, July 16th. They set a “buy” rating and a $11.00 price target on the stock. Separately, analysts at Bank of America 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. Finally, 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $12.83.
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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