Brokerages predict that Aerohive Networks, Inc. (NYSE:HIVE) will announce $43.13 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Aerohive Networks’ earnings. The highest sales estimate is $43.26 million and the lowest is $43.00 million. Aerohive Networks reported sales of $47.63 million during the same quarter last year, which indicates a negative year-over-year growth rate of 9.4%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, August 2nd.

On average, analysts expect that Aerohive Networks will report full year sales of $43.13 million for the current fiscal year, with estimates ranging from $169.90 million to $172.40 million. For the next year, analysts anticipate that the business will post sales of $194.54 million per share, with estimates ranging from $192.00 million to $196.50 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Aerohive Networks.

Aerohive Networks (NYSE:HIVE) last issued 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. The business had revenue of $36.35 million during the quarter, compared to the consensus estimate of $35.88 million. Aerohive Networks had a negative net margin of 20.12% and a negative return on equity of 109.99%. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.13) EPS.

A number of brokerages have weighed in on HIVE. BidaskClub lowered shares of Aerohive Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Zacks Investment Research lowered shares of Aerohive Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. 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. Finally, Wunderlich raised shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.11.

Shares of Aerohive Networks (NYSE:HIVE) opened at 4.80 on Friday. Aerohive Networks has a 12 month low of $3.66 and a 12 month high of $7.45. The stock’s market cap is $209.31 million. The company has a 50 day moving average of $4.99 and a 200 day moving average of $4.75.

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In related news, CFO John Ritchie acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost 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 $726,411.71. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO David K. Flynn acquired 40,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was bought at an average price of $4.30 per share, for a total transaction of $172,000.00. Following the completion of the acquisition, the chief executive officer now owns 209,236 shares of the company’s stock, valued at $899,714.80. The disclosure for this purchase can be found here. 26.23% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased 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 valued at $111,000 after buying an additional 4,074 shares in the last quarter. Yiheng Capital LLC increased its position in Aerohive Networks by 3.5% in the first quarter. Yiheng Capital LLC now owns 943,481 shares of the communications equipment provider’s stock valued at $3,972,000 after buying an additional 32,283 shares in the last quarter. Citadel Advisors LLC bought a new position in Aerohive Networks during the first quarter valued at approximately $108,000. VIEX Capital Advisors LLC bought a new position in Aerohive Networks during the first quarter valued at approximately $1,578,000. Finally, Geode Capital Management LLC increased 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 valued at $1,162,000 after buying an additional 6,421 shares in the last quarter. Hedge funds and other institutional investors own 53.32% of the company’s stock.

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.

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