Wall Street analysts forecast that Aerohive Networks, Inc. (NYSE:HIVE) will announce sales of $41.96 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Aerohive Networks’ earnings. The lowest sales estimate is $38.50 million and the highest is $45.42 million. Aerohive Networks posted sales of $40.37 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.9%. The business is scheduled to issue its next earnings report on Wednesday, November 1st.

On average, analysts expect that Aerohive Networks will report full year sales of $41.96 million for the current fiscal year, with estimates ranging from $158.20 million to $172.40 million. For the next year, analysts anticipate that the business will report sales of $187.31 million per share, with estimates ranging from $179.50 million to $195.12 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Aerohive Networks.

Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.11 million. Aerohive Networks had a negative return on equity of 107.93% and a negative net margin of 18.58%. The company’s revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) earnings per share.

Several analysts have recently weighed in on HIVE shares. Wunderlich raised Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Thursday, May 4th. BidaskClub downgraded Aerohive Networks from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. DA Davidson reissued a “buy” rating and issued a $9.00 target price on shares of Aerohive Networks in a report on Friday, May 19th. Finally, Zacks Investment Research raised Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $5.87.

In related news, CFO John Ritchie acquired 20,000 shares of Aerohive Networks stock in a transaction on Tuesday, May 16th. The stock was purchased at an average cost of $4.31 per share, with a total value of $86,200.00. Following the purchase, the chief financial officer now directly owns 168,541 shares in the company, valued at $726,411.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David K. Flynn acquired 40,000 shares of Aerohive Networks stock in a transaction on Tuesday, May 16th. The shares were bought at an average cost 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. 26.23% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC bought a new stake in Aerohive Networks during the second quarter valued at approximately $100,000. Citadel Advisors LLC bought a new stake in Aerohive Networks during the first quarter valued at approximately $108,000. Goldman Sachs Group Inc. increased its stake 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. Trexquant Investment LP bought a new stake in Aerohive Networks during the first quarter valued at approximately $121,000. Finally, Rhumbline Advisers increased its stake in Aerohive Networks by 23.8% in the second quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock valued at $158,000 after buying an additional 6,061 shares in the last quarter. 47.73% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Zacks: Analysts Anticipate Aerohive Networks, Inc. (HIVE) Will Post Quarterly Sales of $41.96 Million” was published by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/08/13/zacks-analysts-anticipate-aerohive-networks-inc-hive-will-post-quarterly-sales-of-41-96-million.html.

Aerohive Networks (HIVE) opened at 3.29 on Friday. The stock has a 50 day moving average price of $4.57 and a 200-day moving average price of $4.58. Aerohive Networks has a one year low of $3.02 and a one year high of $7.00. The firm’s market capitalization is $143.46 million.

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.

Get a free copy of the Zacks research report on Aerohive Networks (HIVE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Aerohive Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerohive Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.