Shares of Aerohive Networks, Inc. (NYSE:HIVE) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.05.

HIVE has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Aerohive Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. DA Davidson reissued a “buy” rating and issued a $9.00 price objective on shares of Aerohive Networks in a research note on Friday, May 19th. Finally, BidaskClub downgraded shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th.

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Aerohive Networks (NYSE:HIVE) opened at 3.43 on Friday. Aerohive Networks has a 12-month low of $3.02 and a 12-month high of $6.99. The stock’s market cap is $149.57 million. The firm’s 50 day moving average price is $3.92 and its 200-day moving average price is $4.37.

Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Aerohive Networks had a negative net margin of 18.58% and a negative return on equity of 107.93%. The firm had revenue of $42.30 million during the quarter, compared to the consensus estimate of $43.11 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. The company’s revenue was down 11.2% on a year-over-year basis. Equities research analysts anticipate that Aerohive Networks will post ($0.14) earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Aerohive Networks by 36.7% in the first quarter. Russell Investments Group Ltd. now owns 793,021 shares of the communications equipment provider’s stock worth $3,339,000 after buying an additional 212,899 shares during the period. Stoneridge Investment Partners LLC acquired a new position in shares of Aerohive Networks during the first quarter worth approximately $134,000. Boston Partners increased its position in shares of 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 during the period. Parametric Portfolio Associates LLC increased its position in shares of 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 during the period. Finally, Mutual of America Capital Management LLC increased its position in shares of 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 during the period. 44.70% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Aerohive Networks (NYSE:HIVE)

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