Aerohive Networks’ (HIVE) “Outperform” Rating Reaffirmed at William Blair
Aerohive Networks Inc. (NYSE:HIVE)‘s stock had its “outperform” rating reiterated by stock analysts at William Blair in a report issued on Friday.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research report on Tuesday, August 9th. Wunderlich cut Aerohive Networks from a “buy” rating to a “hold” rating and dropped their target price for the company from $8.00 to $5.00 in a report on Friday. JMP Securities dropped their target price 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. Buckingham Research cut Aerohive Networks from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $7.50 target price (up from $7.20) on shares of Aerohive Networks in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.14.
Shares of Aerohive Networks (NYSE:HIVE) opened at 5.63 on Friday. The firm has a 50-day moving average price of $6.22 and a 200-day moving average price of $6.32. Aerohive Networks has a one year low of $4.08 and a one year high of $7.48. The company’s market capitalization is $245.50 million.
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Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. The firm had revenue of $47.63 million for 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%. The company’s revenue was up 29.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.14) EPS. Equities analysts forecast that Aerohive Networks will post ($0.18) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in HIVE. Creative Planning boosted its stake in Aerohive Networks by 0.4% in the third quarter. Creative Planning now owns 204,187 shares of the company’s stock valued at $1,243,000 after buying an additional 722 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Aerohive Networks by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 62,437 shares of the company’s stock valued at $414,000 after buying an additional 1,008 shares during the period. A.R.T. Advisors LLC acquired a new stake in Aerohive Networks during the second quarter valued at $168,000. Murphy Michael R boosted its stake in Aerohive Networks by 12.4% in the second quarter. Murphy Michael R now owns 4,354,385 shares of the company’s stock valued at $28,826,000 after buying an additional 479,740 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in Aerohive Networks during the second quarter valued at $208,000. Institutional investors and hedge funds own 46.95% of the company’s stock.
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.
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