Aerohive Networks Inc. (HIVE) Given “Outperform” Rating at William Blair
Aerohive Networks Inc. (NYSE:HIVE)‘s stock had its “outperform” rating restated by equities researchers at William Blair in a research note issued on Friday.
HIVE has been the topic of several other reports. JMP Securities dropped their price target on Aerohive Networks from $10.00 to $9.00 and set a “market outperform” rating on the stock in a research 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 target on the stock in a research report on Tuesday, August 9th. Piper Jaffray Cos. reissued an “overweight” rating and set a $7.50 price target (up from $7.20) on shares of Aerohive Networks in a research report on Friday, August 5th. Buckingham Research lowered Aerohive Networks from a “buy” rating to a “neutral” rating in a research report on Friday. Finally, Wunderlich lowered Aerohive Networks from a “buy” rating to a “hold” rating and dropped their price target for the company from $8.00 to $5.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $7.14.
Shares of Aerohive Networks (NYSE:HIVE) opened at 5.63 on Friday. Aerohive Networks has a one year low of $4.08 and a one year high of $7.48. The stock’s market capitalization is $245.50 million. The company’s 50 day moving average price is $6.22 and its 200 day moving average price is $6.32.
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 https://www.americanbankingnews.com/2016/10/14/aerohive-networks-inc-hive-given-outperform-rating-at-william-blair.html
Aerohive Networks (NYSE:HIVE) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The company 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%. Aerohive Networks’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.14) earnings per share. On average, equities analysts expect that Aerohive Networks will post ($0.18) earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in HIVE. Creative Planning increased 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. Rhumbline Advisers increased its stake in Aerohive Networks by 4.1% in the second quarter. Rhumbline Advisers now owns 22,091 shares of the company’s stock valued at $146,000 after buying an additional 875 shares during the period. Schwab Charles Investment Management Inc. increased 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. Strs Ohio increased its stake in Aerohive Networks by 8.6% in the second quarter. Strs Ohio now owns 26,600 shares of the company’s stock valued at $176,000 after buying an additional 2,100 shares during the period. Finally, BlackRock Investment Management LLC increased 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 valued at $572,000 after buying an additional 2,271 shares during the period. Institutional investors 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.
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 MarketBeat.com's FREE daily email newsletter.