Wunderlich downgraded shares of Aerohive Networks Inc. (NYSE:HIVE) from a buy rating to a hold rating in a research note issued to investors on Friday morning. They currently have $5.00 price objective on the stock, down from their previous price objective of $8.00.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Aerohive Networks from a buy rating to a hold rating in a report on Wednesday, October 5th. JMP Securities lowered their price target on Aerohive Networks from $10.00 to $9.00 and set a market outperform rating for the company in a report on Thursday, August 4th. Piper Jaffray Cos. reiterated an overweight rating and issued a $7.50 price target (up from $7.20) on shares of Aerohive Networks in a report on Friday, August 5th. Finally, Buckingham Research downgraded Aerohive Networks from a buy rating to a neutral rating and lowered their price target for the company from $8.00 to $5.00 in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $6.63.
Aerohive Networks (NYSE:HIVE) traded down 2.53% during mid-day trading on Friday, hitting $5.40. The stock had a trading volume of 130,511 shares. The stock’s market cap is $235.47 million. Aerohive Networks has a one year low of $4.08 and a one year high of $7.48. The company has a 50 day moving average price of $6.19 and a 200 day moving average price of $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, topping analysts’ consensus estimates of ($0.06) by $0.04. The business earned $47.63 million during the quarter, compared to the consensus estimate of $47.44 million. Aerohive Networks had a negative return on equity of 106.44% and a negative net margin of 21.86%. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) EPS. On average, equities analysts anticipate that Aerohive Networks will post ($0.18) EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Menta Capital LLC boosted its position in Aerohive Networks by 190.0% in the first quarter. Menta Capital LLC now owns 63,128 shares of the company’s stock worth $315,000 after buying an additional 41,360 shares during the last quarter. State Street Corp boosted its position in Aerohive Networks by 14.1% in the first quarter. State Street Corp now owns 222,932 shares of the company’s stock worth $1,107,000 after buying an additional 27,514 shares during the last quarter. Royce & Associates LP boosted its position in Aerohive Networks by 15.4% in the first quarter. Royce & Associates LP now owns 75,000 shares of the company’s stock worth $374,000 after buying an additional 10,000 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. Finally, Murphy Michael R boosted its position in Aerohive Networks by 4.2% in the first quarter. Murphy Michael R now owns 3,874,645 shares of the company’s stock worth $19,334,000 after buying an additional 155,286 shares during the last quarter. 46.90% of the stock is owned by 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.
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.