Aerohive Networks Inc. (HIVE) Rating Reiterated by William Blair
Aerohive Networks Inc. (NYSE:HIVE)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a research note issued on Friday.
Several other brokerages have also recently issued reports on HIVE. Zacks Investment Research raised Aerohive Networks from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Tuesday, August 9th. Wunderlich cut Aerohive Networks from a “buy” rating to a “hold” rating and decreased their price objective for the company from $8.00 to $5.00 in a report on Friday. JMP Securities decreased their price objective 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. reissued an “overweight” rating and issued a $7.50 price objective (up previously from $7.20) on shares of Aerohive Networks in a report on Friday, August 5th. Finally, Buckingham Research cut Aerohive Networks from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $8.00 to $5.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.63.
Aerohive Networks (NYSE:HIVE) opened at 5.34 on Friday. Aerohive Networks has a 12-month low of $4.08 and a 12-month high of $7.48. The firm’s 50-day moving average price is $6.14 and its 200 day moving average price is $6.34. The stock’s market cap is $232.86 million.
Aerohive Networks (NYSE:HIVE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The business earned $47.63 million during 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 company’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) EPS. Analysts anticipate that Aerohive Networks will post ($0.18) EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. DIAM Co. Ltd. purchased a new position in shares of Aerohive Networks during the second quarter worth approximately $163,000. Emerald Acquisition Ltd. purchased a new position in shares of Aerohive Networks during the second quarter worth approximately $728,000. Mutual of America Capital Management LLC boosted its position in shares of Aerohive Networks by 52.7% in the second quarter. Mutual of America Capital Management LLC now owns 473,729 shares of the company’s stock worth $3,136,000 after buying an additional 163,393 shares during the last quarter. Strs Ohio boosted its position in shares of Aerohive Networks by 8.6% in the second quarter. Strs Ohio now owns 26,600 shares of the company’s stock worth $176,000 after buying an additional 2,100 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Aerohive Networks by 152.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 53,300 shares of the company’s stock worth $266,000 after buying an additional 32,200 shares during the last quarter. 46.90% of the stock is owned by institutional investors and hedge funds.
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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