Goldman Sachs Group Inc. reaffirmed their neutral rating on shares of Aerohive Networks Inc. (NYSE:HIVE) in a research note released on Saturday. Goldman Sachs Group Inc. currently has a $6.00 target price on the stock, down from their previous target price of $7.00.

A number of other brokerages have also recently commented on HIVE. Zacks Investment Research upgraded Aerohive Networks from a hold rating to a buy rating and set a $7.50 price objective on the stock in a research note on Tuesday, August 9th. William Blair restated an outperform rating on shares of Aerohive Networks in a research note on Friday. Wunderlich cut Aerohive Networks from a buy rating to a hold rating and reduced their price objective for the stock from $8.00 to $5.00 in a research note on Friday. JMP Securities reduced their price objective on Aerohive Networks from $10.00 to $9.00 and set a market outperform rating on the stock in a research note on Thursday, August 4th. Finally, Piper Jaffray Cos. restated an overweight rating and set a $7.50 price objective (up previously from $7.20) on shares of Aerohive Networks in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Aerohive Networks currently has an average rating of Hold and an average target price of $7.00.

Aerohive Networks (NYSE:HIVE) traded down 1.60% on Friday, reaching $5.54. The company had a trading volume of 1,679,500 shares. Aerohive Networks has a 12 month low of $4.08 and a 12 month high of $7.48. The stock has a 50 day moving average of $6.19 and a 200 day moving average of $6.32. The firm’s market capitalization is $241.58 million.

Aerohive Networks (NYSE:HIVE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. The company had revenue of $47.63 million for the quarter, compared to analysts’ expectations of $47.44 million. Aerohive Networks had a negative return on equity of 106.44% and a negative net margin of 21.86%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. On average, analysts anticipate that Aerohive Networks will post ($0.18) EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new stake in shares of Aerohive Networks during the second quarter valued at $102,000. Rhumbline Advisers raised its position in 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 period. DIAM Co. Ltd. bought a new position in Aerohive Networks during the second quarter valued at approximately $163,000. A.R.T. Advisors LLC bought a new position in Aerohive Networks during the second quarter valued at approximately $168,000. Finally, Strs Ohio raised its position in Aerohive Networks by 8.6% in the second quarter. Strs Ohio now owns 26,600 shares of the company’s stock valued at $176,000 after buying an additional 2,100 shares during the period. 46.95% of the stock is owned by hedge funds and other 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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