Aerohive Networks Inc. (HIVE) Rating Lowered to Neutral at Buckingham Research
Aerohive Networks Inc. (NYSE:HIVE) was downgraded by stock analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research report issued on Friday, The Fly reports.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research report on Tuesday, August 9th. Piper Jaffray Cos. reissued an “overweight” rating and set a $7.50 price target (up previously from $7.20) on shares of Aerohive Networks in a research report on Friday, August 5th. Finally, JMP Securities decreased their price target on shares of Aerohive Networks from $10.00 to $9.00 and set a “market outperform” rating for the company in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Aerohive Networks currently has a consensus rating of “Hold” and an average target price of $7.14.
Aerohive Networks (NYSE:HIVE) opened at 5.63 on Friday. The firm’s 50-day moving average is $6.22 and its 200-day moving average is $6.32. Aerohive Networks has a 12 month low of $4.08 and a 12 month high of $7.48. The stock’s market cap is $245.50 million.
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Aerohive Networks (NYSE:HIVE) last released its quarterly 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. Aerohive Networks had a negative net margin of 21.86% and a negative return on equity of 106.44%. The business earned $47.63 million during the quarter, compared to the consensus estimate of $47.44 million. During the same quarter last year, the company earned ($0.14) earnings per share. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, equities analysts forecast that Aerohive Networks will post ($0.18) earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in Aerohive Networks by 15.4% in the first quarter. Royce & Associates LP now owns 75,000 shares of the company’s stock worth $374,000 after buying an additional 10,000 shares during the last quarter. Menta Capital LLC boosted its stake in Aerohive Networks by 190.0% in the first quarter. Menta Capital LLC now owns 63,128 shares of the company’s stock worth $315,000 after buying an additional 41,360 shares during the last quarter. Spark Investment Management LLC boosted its stake in Aerohive Networks by 28.5% in the first quarter. Spark Investment Management LLC now owns 144,000 shares of the company’s stock worth $718,000 after buying an additional 31,924 shares during the last quarter. State Street Corp boosted its stake in Aerohive Networks by 14.1% in the first quarter. State Street Corp now owns 222,932 shares of the company’s stock worth $1,107,000 after buying an additional 27,514 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Aerohive Networks by 7.8% in the first quarter. Geode Capital Management LLC now owns 123,240 shares of the company’s stock worth $614,000 after buying an additional 8,906 shares during the last quarter. 46.95% of the stock is owned by hedge funds and other institutional investors.
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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