Aerohive Networks Inc. (NYSE:HIVE) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ($0.07)-($0.06) for the period, compared to the Thomson Reuters consensus estimate of ($0.04). The company issued revenue guidance of Approx $40 million, compared to the consensus revenue estimate of $48.01 million.Aerohive Networks also updated its Q4 guidance to ($0.09)-($0.06) EPS.

Several analysts recently commented on the company. JMP Securities cut their price objective on Aerohive Networks from $10.00 to $9.00 and set a market outperform rating for the company in a report on Thursday, August 4th. Zacks Investment Research raised Aerohive Networks from a hold rating to a buy rating and set a $7.50 price objective for the company in a report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reaffirmed an overweight rating and issued a $7.50 price objective (up previously from $7.20) on shares of Aerohive Networks in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Aerohive Networks presently has an average rating of Buy and a consensus price target of $7.57.

Aerohive Networks Inc. (NYSE:HIVE) traded down 2.26% during mid-day trading on Thursday, reaching $5.63. The company’s stock had a trading volume of 111,504 shares. Aerohive Networks Inc. has a one year low of $4.08 and a one year high of $7.48. The stock has a 50-day moving average price of $6.26 and a 200-day moving average price of $6.32. The company’s market capitalization is $245.50 million.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at

Aerohive Networks (NYSE:HIVE) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The company earned $47.63 million during the quarter, compared to analyst estimates of $47.44 million. Aerohive Networks had a negative return on equity of 106.44% and a negative net margin of 21.86%. Aerohive Networks’s revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Equities research analysts forecast that Aerohive Networks Inc. will post ($0.18) EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. bought a new stake in Aerohive Networks during the second quarter worth $102,000. Rhumbline Advisers raised its stake in Aerohive Networks by 4.1% in the second quarter. Rhumbline Advisers now owns 22,091 shares of the company’s stock worth $146,000 after buying an additional 875 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Aerohive Networks during the second quarter worth $168,000. Citadel Advisors LLC bought a new stake in Aerohive Networks during the second quarter worth $208,000. Finally, BlackRock Investment Management LLC raised its stake in Aerohive Networks by 2.7% in the second quarter. BlackRock Investment Management LLC now owns 86,430 shares of the company’s stock worth $572,000 after buying an additional 2,271 shares in the last quarter. Institutional investors own 46.95% 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.

5 Day Chart for NYSE:HIVE

Receive News & Ratings for Aerohive Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerohive Networks Inc. and related companies with's FREE daily email newsletter.