Shares of Aerohive Networks Inc. (NYSE:HIVE) have earned an average rating of “Hold” from the nine brokerages that are covering the company. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $6.08.

HIVE has been the subject of several research analyst reports. Zacks Investment Research raised Aerohive Networks from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research note on Tuesday, August 9th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $6.00 target price (down from $7.00) on shares of Aerohive Networks in a research note on Saturday, October 15th. JMP Securities reissued a “buy” rating on shares of Aerohive Networks in a research note on Thursday, November 3rd. William Blair reissued an “outperform” rating on shares of Aerohive Networks in a research note on Friday, October 14th. Finally, Wunderlich downgraded Aerohive Networks from a “buy” rating to a “hold” rating and reduced their price objective for the company from $8.00 to $5.00 in a research note on Friday, October 14th.

A number of hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Aerohive Networks by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 62,437 shares of the company’s stock valued at $414,000 after buying an additional 1,008 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Aerohive Networks by 19.2% in the third quarter. Mutual of America Capital Management LLC now owns 564,653 shares of the company’s stock valued at $3,439,000 after buying an additional 90,924 shares during the last quarter. Boston Partners bought a new stake in shares of Aerohive Networks during the second quarter valued at about $3,207,000. DIAM Co. Ltd. bought a new stake in shares of Aerohive Networks during the second quarter valued at about $163,000. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Aerohive Networks during the second quarter valued at about $728,000. Institutional investors own 48.97% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The original version of this news story can be read at https://www.thecerbatgem.com/2016/11/28/aerohive-networks-inc-hive-receives-6-08-average-price-target-from-brokerages.html.

Shares of Aerohive Networks (NYSE:HIVE) opened at 5.63 on Friday. The company’s market capitalization is $245.50 million. Aerohive Networks has a 52-week low of $4.08 and a 52-week high of $7.45. The stock’s 50 day moving average price is $5.43 and its 200 day moving average price is $6.26.

Aerohive Networks (NYSE:HIVE) last announced its earnings results on Wednesday, November 2nd. The company reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The business earned $40.40 million during the quarter, compared to the consensus estimate of $40 million. Aerohive Networks had a negative return on equity of 107.34% and a negative net margin of 21.26%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) EPS. On average, equities research analysts forecast that Aerohive Networks will post ($0.28) earnings per share for the current fiscal year.

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.

5 Day Chart for NYSE:HIVE

Receive News & Stock 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 stocks with our FREE daily email newsletter.