Aerohive Networks Inc. (NYSE:HIVE) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ($0.07)-($0.06) for the period, compared to the Thomson Reuters consensus estimate of ($0.04). The company issued revenue guidance of Approx $40 million, compared to the consensus revenue estimate of $48.01 million.Aerohive Networks also updated its Q4 guidance to ($0.09)-($0.06) EPS.

Several brokerages have issued reports on HIVE. Zacks Investment Research raised Aerohive Networks from a hold rating to a buy rating and set a $7.50 price target for the company in a report on Tuesday, August 9th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $7.50 price target (up previously from $7.20) on shares of Aerohive Networks in a report on Friday, August 5th. Finally, JMP Securities cut 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Aerohive Networks currently has a consensus rating of Buy and a consensus target price of $7.57.

Aerohive Networks Inc. (NYSE:HIVE) traded down 2.26% during midday trading on Thursday, hitting $5.63. The stock had a trading volume of 111,504 shares. The company has a 50-day moving average price of $6.26 and a 200-day moving average price of $6.32. The stock’s market cap is $245.50 million. Aerohive Networks Inc. has a 52 week low of $4.08 and a 52 week high of $7.48.

Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business earned $47.63 million during the quarter, compared to the consensus estimate of $47.44 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Aerohive Networks’s revenue was up 29.3% compared to the same quarter last year. Equities analysts expect that Aerohive Networks Inc. will post ($0.18) EPS for the current year.

Hedge funds have recently modified their holdings of the company. A.R.T. Advisors LLC purchased a new stake in shares of Aerohive Networks during the second quarter valued at approximately $168,000. Murphy Michael R raised its stake in shares of Aerohive Networks by 12.4% in the second quarter. Murphy Michael R now owns 4,354,385 shares of the company’s stock valued at $28,826,000 after buying an additional 479,740 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Aerohive Networks during the second quarter valued at approximately $208,000. State Street Corp raised its stake in shares of Aerohive Networks by 45.7% in the second quarter. State Street Corp now owns 324,760 shares of the company’s stock valued at $2,151,000 after buying an additional 101,828 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Aerohive Networks by 4.1% in the second quarter. Rhumbline Advisers now owns 22,091 shares of the company’s stock valued at $146,000 after buying an additional 875 shares during the last quarter. 46.95% of the stock is owned by institutional investors.

Aerohive Networks Company Profile

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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