Aerohive Networks, Inc. (NYSE:HIVE) to Release Quarterly Earnings on Tuesday
Aerohive Networks, Inc. (NYSE:HIVE) is scheduled to announce its earnings results after the market closes on Tuesday, August 1st. Aerohive Networks has set its Q2 guidance at $0.00-0.01 EPS.
Aerohive Networks (NYSE:HIVE) last posted its earnings results on Wednesday, May 3rd. The communications equipment provider reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.09. Aerohive Networks had a negative return on equity of 109.99% and a negative net margin of 20.12%. The firm had revenue of $36.35 million during the quarter, compared to analysts’ expectations of $35.88 million. During the same period in the previous year, the firm earned ($0.13) earnings per share. The company’s revenue was down 9.4% on a year-over-year basis. On average, analysts expect Aerohive Networks to post $-0.45 EPS for the current fiscal year and $-0.28 EPS for the next fiscal year.
Aerohive Networks, Inc. (HIVE) opened at 4.78 on Tuesday. Aerohive Networks, Inc. has a 1-year low of $3.66 and a 1-year high of $7.45. The firm has a 50-day moving average price of $4.98 and a 200-day moving average price of $4.73. The firm’s market capitalization is $208.44 million.
In other news, CFO John Ritchie bought 20,000 shares of Aerohive Networks stock in a transaction dated Tuesday, May 16th. The stock was bought at an average cost of $4.31 per share, for a total transaction of $86,200.00. Following the purchase, the chief financial officer now directly owns 168,541 shares in the company, valued at approximately $726,411.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David K. Flynn bought 40,000 shares of Aerohive Networks stock in a transaction dated Tuesday, May 16th. The stock was purchased at an average price of $4.30 per share, with a total value of $172,000.00. Following the completion of the purchase, the chief executive officer now owns 209,236 shares in the company, valued at $899,714.80. The disclosure for this purchase can be found here. Company insiders own 26.23% of the company’s stock.
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HIVE has been the subject of several research analyst reports. Wunderlich raised 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. DA Davidson reissued a “buy” rating and issued a $9.00 price objective on shares of Aerohive Networks in a research report on Friday, May 19th. Zacks Investment Research raised 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 Monday, May 22nd. Finally, BidaskClub lowered Aerohive Networks from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $6.11.
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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