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.

Analyst Recommendations for Aerohive Networks (NYSE:HIVE)

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.

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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.

12 Month Chart for NYSE:HIVE

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