Analysts predict that Aerohive Networks, Inc. (NYSE:HIVE) will report earnings per share of ($0.11) for the current quarter, Zacks reports. Three analysts have made estimates for Aerohive Networks’ earnings. Aerohive Networks posted earnings of ($0.13) per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.4%. The business is expected to issue its next quarterly earnings results on Wednesday, August 2nd.

On average, analysts expect that Aerohive Networks will report full year earnings of ($0.45) per share for the current fiscal year. For the next fiscal year, analysts forecast that the firm will post earnings of ($0.28) per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Aerohive Networks.

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, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.09. Aerohive Networks had a negative net margin of 20.12% and a negative return on equity of 109.99%. The firm had revenue of $36.35 million during the quarter, compared to the consensus estimate of $35.88 million. During the same period last year, the firm earned ($0.13) EPS. The business’s quarterly revenue was down 9.4% compared to the same quarter last year.

Several equities research analysts have recently weighed in on HIVE shares. Zacks Investment Research raised shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Monday, May 22nd. Wunderlich raised shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Thursday, May 4th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $9.00 price target on shares of Aerohive Networks in a research note on Friday, May 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $6.11.

Shares of Aerohive Networks (HIVE) traded down 1.12% on Tuesday, reaching $5.29. 378,547 shares of the company’s stock traded hands. Aerohive Networks has a 52-week low of $3.66 and a 52-week high of $7.45. The firm’s 50-day moving average is $4.61 and its 200-day moving average is $4.84. The stock’s market cap is $230.68 million.

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In other Aerohive Networks news, CEO David K. Flynn bought 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 acquisition, the chief executive officer now directly owns 209,236 shares in the company, valued at $899,714.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John Ritchie purchased 20,000 shares of the stock in a transaction dated Tuesday, May 16th. The stock was purchased at an average price of $4.31 per share, for a total transaction of $86,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 168,541 shares in the company, valued at approximately $726,411.71. The disclosure for this purchase can be found here. 26.23% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Aerohive Networks during the fourth quarter worth $3,283,000. Stoneridge Investment Partners LLC purchased a new stake in Aerohive Networks during the first quarter worth $134,000. Boston Partners boosted its stake in 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 in the last quarter. Parametric Portfolio Associates LLC boosted its stake 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. Finally, Mutual of America Capital Management LLC boosted its stake in Aerohive Networks by 8.0% in the first quarter. Mutual of America Capital Management LLC now owns 680,519 shares of the communications equipment provider’s stock worth $2,865,000 after buying an additional 50,323 shares in the last quarter. Institutional investors and hedge funds own 53.31% of the company’s stock.

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.

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