Aerohive Networks (HIVE) Stock Rating Lowered by Zacks Investment Research

Aerohive Networks (NYSE:HIVE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Aerohive Networks Inc. designs and develops a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s cloud-managed mobile networking platform consists of four components: Cloud Services Platform, HiveOS operating system, client management software and its portfolio of hardware products. It serves the healthcare, education, manufacturing, distribution, and retail industries throughout the United States. Aerohive Networks, Inc. is headquartered in Sunnyvale, California. “

HIVE has been the subject of a number of other research reports. ValuEngine lowered shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 6th. Craig Hallum initiated coverage on shares of Aerohive Networks in a report on Tuesday, October 17th. They set a “buy” rating and a $6.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Aerohive Networks presently has a consensus rating of “Hold” and a consensus price target of $6.05.

Aerohive Networks (NYSE:HIVE) remained flat at $$5.94 during trading hours on Wednesday. The company’s stock had a trading volume of 417,500 shares, compared to its average volume of 396,533. The company has a quick ratio of 1.95, a current ratio of 2.19 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $312.48, a price-to-earnings ratio of -11.65 and a beta of 1.79. Aerohive Networks has a one year low of $3.02 and a one year high of $6.50.

Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. The company had revenue of $37.07 million during the quarter, compared to analysts’ expectations of $38.41 million. Aerohive Networks had a negative net margin of 17.00% and a negative return on equity of 103.45%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share. sell-side analysts forecast that Aerohive Networks will post -0.43 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in HIVE. Royce & Associates LP purchased a new stake in shares of Aerohive Networks during the third quarter worth $4,116,000. Yiheng Capital LLC grew its holdings in shares of Aerohive Networks by 56.9% during the third quarter. Yiheng Capital LLC now owns 1,863,083 shares of the communications equipment provider’s stock worth $7,620,000 after buying an additional 675,814 shares in the last quarter. Boston Partners grew its holdings in shares of Aerohive Networks by 25.8% in the third quarter. Boston Partners now owns 3,130,549 shares of the communications equipment provider’s stock valued at $12,804,000 after purchasing an additional 641,667 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Aerohive Networks by 51.6% in the third quarter. Russell Investments Group Ltd. now owns 1,601,790 shares of the communications equipment provider’s stock valued at $6,551,000 after purchasing an additional 544,890 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new stake in shares of Aerohive Networks in the second quarter valued at about $2,487,000. 46.13% of the stock is owned by institutional investors and hedge funds.

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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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