Aerohive Networks Inc (HIVE) Rating Reiterated by DA Davidson
Aerohive Networks Inc (NYSE:HIVE)‘s stock had its “buy” rating reaffirmed by equities researchers at DA Davidson in a research report issued to clients and investors on Friday. They currently have a $9.00 price objective on the communications equipment provider’s stock. DA Davidson’s price objective would indicate a potential upside of 97.37% from the stock’s current price.
A number of other analysts also recently commented on the company. Wunderlich upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Thursday, May 4th. William Blair reissued an “outperform” rating on shares of Aerohive Networks in a report on Wednesday, February 15th. Finally, JMP Securities cut Aerohive Networks from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $4.99 to $5.24 in a report on Monday, February 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Aerohive Networks currently has an average rating of “Buy” and a consensus target price of $6.46.
Aerohive Networks (NYSE:HIVE) opened at 4.56 on Friday. The company’s market capitalization is $198.84 million. The company’s 50-day moving average price is $4.03 and its 200-day moving average price is $4.92. Aerohive Networks has a 52 week low of $3.66 and a 52 week high of $7.45.
Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings data on Wednesday, May 3rd. The communications equipment provider reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.09. Aerohive Networks had a negative return on equity of 107.34% and a negative net margin of 21.26%. The company had revenue of $36.35 million during the quarter, compared to the consensus estimate of $35.88 million. During the same quarter last year, the company earned ($0.13) EPS. The company’s quarterly revenue was down 9.4% on a year-over-year basis. On average, equities analysts forecast that Aerohive Networks will post ($0.06) EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Aerohive Networks Inc (HIVE) Rating Reiterated by DA Davidson” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/05/20/aerohive-networks-inc-hive-rating-reiterated-by-da-davidson.html.
In related news, CEO David K. Flynn bought 40,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average cost of $4.30 per share, with a total value of $172,000.00. Following the acquisition, the chief executive officer now owns 209,236 shares in the company, valued at approximately $899,714.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Ritchie bought 20,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was bought at an average cost of $4.31 per share, with a total value of $86,200.00. Following the completion of the acquisition, the chief financial officer now owns 168,541 shares in the company, valued at approximately $726,411.71. The disclosure for this purchase can be found here. Corporate insiders own 36.18% of the company’s stock.
Several institutional investors have recently modified their holdings of HIVE. Discovery Group I LLC boosted its position in shares of Aerohive Networks by 5.0% in the fourth quarter. Discovery Group I LLC now owns 4,673,981 shares of the communications equipment provider’s stock worth $26,642,000 after buying an additional 220,594 shares during the last quarter. Boston Partners boosted its position in shares of Aerohive Networks by 29.0% in the first quarter. Boston Partners now owns 2,602,810 shares of the communications equipment provider’s stock worth $10,958,000 after buying an additional 585,565 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Aerohive Networks by 6.3% in the first quarter. Vanguard Group Inc. now owns 956,657 shares of the communications equipment provider’s stock worth $4,028,000 after buying an additional 56,984 shares during the last quarter. Yiheng Capital LLC boosted its position in shares of Aerohive Networks by 3.5% in the first quarter. Yiheng Capital LLC now owns 943,481 shares of the communications equipment provider’s stock worth $3,972,000 after buying an additional 32,283 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Aerohive Networks by 36.7% in the first quarter. Russell Investments Group Ltd. now owns 793,021 shares of the communications equipment provider’s stock worth $3,339,000 after buying an additional 212,899 shares during the last quarter. 51.35% of the stock is owned by institutional investors and hedge funds.
About Aerohive Networks
Aerohive Networks, Inc together with its subsidiaries, has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy and manage a mobile-centric network edge. Its portfolio of products and solutions is built around sets of technologies and solutions, 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.