Aerohive Networks Inc. (HIVE) Downgraded to Neutral at Buckingham Research
Aerohive Networks Inc. (NYSE:HIVE) was downgraded by research analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research report issued on Friday, The Fly reports.
Several other brokerages have also weighed in on HIVE. Zacks Investment Research upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research note on Tuesday, August 9th. JMP Securities cut their price target on Aerohive Networks from $10.00 to $9.00 and set a “market outperform” rating for the company in a research note on Thursday, August 4th. Finally, 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 note on Friday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Aerohive Networks 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 stock’s market capitalization is $245.50 million. The firm’s 50-day moving average price is $6.22 and its 200-day moving average price is $6.32. Aerohive Networks has a 12 month low of $4.08 and a 12 month high of $7.48.
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Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. Aerohive Networks had a negative return on equity of 106.44% and a negative net margin of 21.86%. The firm earned $47.63 million during the quarter, compared to analyst estimates of $47.44 million. During the same quarter in the previous year, the business earned ($0.14) EPS. Aerohive Networks’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, equities research analysts forecast that Aerohive Networks will post ($0.18) EPS for the current year.
A number of large investors have recently bought and sold shares of the company. 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 last quarter. Granahan Investment Management Inc. MA boosted its stake in Aerohive Networks by 17.4% in the first quarter. Granahan Investment Management Inc. MA now owns 1,613,104 shares of the company’s stock valued at $8,049,000 after buying an additional 239,630 shares during the last quarter. Vanguard Group Inc. boosted its stake in Aerohive Networks by 16.6% in the second quarter. Vanguard Group Inc. now owns 705,752 shares of the company’s stock valued at $4,672,000 after buying an additional 100,290 shares during the last quarter. United Services Automobile Association boosted its stake in Aerohive Networks by 12.0% in the second quarter. United Services Automobile Association now owns 512,890 shares of the company’s stock valued at $3,395,000 after buying an additional 55,000 shares during the last quarter. Finally, Boston Partners purchased a new stake in Aerohive Networks during the second quarter valued at about $3,207,000. 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.
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