Several other equities research analysts have also recently commented on the company. Wunderlich cut Aerohive Networks from a buy rating to a hold rating and dropped their price objective for the company from $8.00 to $5.00 in a research report on Friday. Buckingham Research cut Aerohive Networks from a buy rating to a neutral rating and dropped their target price for the stock from $8.00 to $5.00 in a research report on Friday. Zacks Investment Research cut Aerohive Networks from a buy rating to a hold rating in a research report on Wednesday, October 5th. Piper Jaffray Cos. reissued an overweight rating and issued a $7.50 target price (up from $7.20) on shares of Aerohive Networks in a research report on Friday, August 5th. Finally, JMP Securities dropped their target price on Aerohive Networks from $10.00 to $9.00 and set a market outperform rating on the stock in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $6.63.
Shares of Aerohive Networks (NYSE:HIVE) traded down 2.53% during midday trading on Friday, hitting $5.40. The stock had a trading volume of 130,511 shares. Aerohive Networks has a 12 month low of $4.08 and a 12 month high of $7.48. The firm’s market cap is $235.47 million. The stock’s 50 day moving average price is $6.19 and its 200 day moving average price is $6.32.
Aerohive Networks (NYSE:HIVE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. Aerohive Networks had a negative return on equity of 106.44% and a negative net margin of 21.86%. The company had revenue of $47.63 million for the quarter, compared to analysts’ expectations of $47.44 million. During the same period last year, the firm posted ($0.14) earnings per share. Aerohive Networks’s revenue was up 29.3% compared to the same quarter last year. On average, equities analysts forecast that Aerohive Networks will post ($0.18) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of HIVE. Murphy Michael R boosted its position in Aerohive Networks by 12.4% in the second quarter. Murphy Michael R now owns 4,354,385 shares of the company’s stock worth $28,826,000 after buying an additional 479,740 shares during the last quarter. Granahan Investment Management Inc. MA boosted its position in Aerohive Networks by 17.4% in the first quarter. Granahan Investment Management Inc. MA now owns 1,613,104 shares of the company’s stock worth $8,049,000 after buying an additional 239,630 shares during the last quarter. Vanguard Group Inc. boosted its position in Aerohive Networks by 16.6% in the second quarter. Vanguard Group Inc. now owns 705,752 shares of the company’s stock worth $4,672,000 after buying an additional 100,290 shares during the last quarter. United Services Automobile Association boosted its position in Aerohive Networks by 12.0% in the second quarter. United Services Automobile Association now owns 512,890 shares of the company’s stock worth $3,395,000 after buying an additional 55,000 shares during the last quarter. Finally, Boston Partners bought a new position in Aerohive Networks during the second quarter worth $3,207,000. 46.90% of the stock is currently owned by hedge funds and other institutional investors.
About Aerohive Networks
Aerohive Networks, Inc, together with its subsidiaries, is engaged in designing and development of a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s portfolio of products and solutions is built around sets of technologies and capabilities, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights.
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