Aerohive Networks Inc. (HIVE) Rating Lowered to Sell at Zacks Investment Research
Aerohive Networks Inc. (NYSE:HIVE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Aerohive Networks Inc. designs and develops a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s cloud-managed mobile networking platform consists of four components: Cloud Services Platform, HiveOS operating system, client management software and its portfolio of hardware products. It serves the healthcare, education, manufacturing, distribution, and retail industries throughout the United States. Aerohive Networks, Inc. is headquartered in Sunnyvale, California. “
Several other analysts also recently commented on the company. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $6.00 target price (down from $7.00) on shares of Aerohive Networks in a research note on Saturday. William Blair restated an “outperform” rating on shares of Aerohive Networks in a research note on Friday. Wunderlich downgraded Aerohive Networks from a “buy” rating to a “hold” rating and reduced their target price for the company from $8.00 to $5.00 in a research note on Friday. Buckingham Research downgraded Aerohive Networks from a “buy” rating to a “neutral” rating and reduced their target price for the company from $8.00 to $5.00 in a research note on Friday. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $7.50 target price (up from $7.20) on shares of Aerohive Networks in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Aerohive Networks has a consensus rating of “Hold” and an average target price of $6.63.
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Aerohive Networks (NYSE:HIVE) traded down 0.75% during mid-day trading on Tuesday, reaching $5.30. The company’s stock had a trading volume of 270,565 shares. The company’s market cap is $231.11 million. The firm has a 50 day moving average price of $6.10 and a 200 day moving average price of $6.35. Aerohive Networks has a 52-week low of $4.08 and a 52-week high of $7.48.
Aerohive Networks (NYSE:HIVE) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The company earned $47.63 million during the quarter, compared to the consensus estimate of $47.44 million. Aerohive Networks had a negative return on equity of 106.44% and a negative net margin of 21.86%. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period last year, the business posted ($0.14) EPS. Equities research analysts anticipate that Aerohive Networks will post ($0.18) earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. purchased a new position in Aerohive Networks during the second quarter valued at approximately $102,000. Rhumbline Advisers boosted its position 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 in the last quarter. DIAM Co. Ltd. purchased a new position in Aerohive Networks during the second quarter valued at approximately $163,000. A.R.T. Advisors LLC purchased a new position in Aerohive Networks during the second quarter valued at approximately $168,000. Finally, Strs Ohio boosted its position 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 in the last quarter. 46.90% of the stock is currently owned by hedge funds and other institutional investors.
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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