Aerohive Networks Inc. (HIVE) Receives $6.08 Average Price Target from Brokerages
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.
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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.
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