Shares of Aerohive Networks Inc (NYSE:HIVE) have received an average rating of “Buy” from the eight brokerages that are currently covering the company. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.11.

Several brokerages recently commented on HIVE. Zacks Investment Research upgraded shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Monday. JMP Securities lowered shares of Aerohive Networks from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $4.99 to $5.24 in a research note on Monday, February 6th. DA Davidson reiterated a “buy” rating and set a $9.00 price target on shares of Aerohive Networks in a research note on Friday. Wunderlich upgraded shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Thursday, May 4th. Finally, William Blair reiterated an “outperform” rating on shares of Aerohive Networks in a research note on Wednesday, February 15th.

In other Aerohive Networks news, CEO David K. Flynn acquired 40,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average cost of $4.30 per share, for a total transaction of $172,000.00. Following the completion of the purchase, the chief executive officer now owns 209,236 shares in the company, valued at approximately $899,714.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John Ritchie acquired 20,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was acquired at an average price of $4.31 per share, for a total transaction of $86,200.00. Following the completion of the purchase, the chief financial officer now owns 168,541 shares of the company’s stock, valued at approximately $726,411.71. The disclosure for this purchase can be found here. Insiders own 36.18% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its position in Aerohive Networks by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 109,437 shares of the communications equipment provider’s stock worth $461,000 after buying an additional 948 shares in the last quarter. OppenheimerFunds Inc. raised its position in Aerohive Networks by 1.4% in the first quarter. OppenheimerFunds Inc. now owns 83,636 shares of the communications equipment provider’s stock worth $352,000 after buying an additional 1,152 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Aerohive Networks by 18.3% in the first quarter. Goldman Sachs Group Inc. now owns 26,294 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 4,074 shares in the last quarter. Geode Capital Management LLC raised its position in Aerohive Networks by 2.4% in the first quarter. Geode Capital Management LLC now owns 276,186 shares of the communications equipment provider’s stock worth $1,162,000 after buying an additional 6,421 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new position in Aerohive Networks during the fourth quarter worth approximately $114,000. Institutional investors own 51.35% of the company’s stock.

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Aerohive Networks (NYSE:HIVE) opened at 4.73 on Tuesday. The company has a 50 day moving average price of $4.04 and a 200 day moving average price of $4.92. The firm’s market capitalization is $206.26 million. 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 results on Wednesday, May 3rd. The communications equipment provider reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.09. Aerohive Networks had a negative net margin of 21.26% and a negative return on equity of 107.34%. The firm had revenue of $36.35 million for the quarter, compared to analyst estimates of $35.88 million. During the same period last year, the business earned ($0.13) EPS. Aerohive Networks’s revenue for the quarter was down 9.4% compared to the same quarter last year. On average, equities analysts forecast that Aerohive Networks will post ($0.06) EPS for the current fiscal year.

Aerohive Networks Company Profile

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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