Goldman Sachs Group Inc. reiterated their neutral rating on shares of Aerohive Networks Inc. (NYSE:HIVE) in a report published on Saturday morning. Goldman Sachs Group Inc. currently has a $6.00 target price on the stock, down from their prior target price of $7.00.
HIVE has been the topic of a number of other reports. Zacks Investment Research lowered Aerohive Networks from a buy rating to a hold rating in a research note on Wednesday, October 5th. JMP Securities decreased 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. Piper Jaffray Cos. reiterated an overweight rating and set a $7.50 price objective (up from $7.20) on shares of Aerohive Networks in a research note on Friday, August 5th. William Blair reiterated an outperform rating on shares of Aerohive Networks in a research note on Friday. Finally, Buckingham Research lowered Aerohive Networks from a buy rating to a neutral rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $7.00.
Shares of Aerohive Networks (NYSE:HIVE) traded down 1.60% during mid-day trading on Friday, hitting $5.54. The stock 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’s market cap is $241.58 million. The firm has a 50 day moving average price of $6.19 and a 200-day moving average price of $6.32.
Aerohive Networks (NYSE:HIVE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $47.63 million for the quarter, compared to analyst estimates of $47.44 million. During the same period in the previous year, the company posted ($0.14) EPS. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, equities research analysts forecast that Aerohive Networks will post ($0.18) EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Murphy Michael R raised its position 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 period. Granahan Investment Management Inc. MA raised its position in shares of Aerohive Networks by 17.4% in the first quarter. Granahan Investment Management Inc. MA now owns 1,613,104 shares of the company’s stock valued at $8,049,000 after buying an additional 239,630 shares during the period. Vanguard Group Inc. raised its position in shares of Aerohive Networks by 16.6% in the second quarter. Vanguard Group Inc. now owns 705,752 shares of the company’s stock valued at $4,672,000 after buying an additional 100,290 shares during the period. United Services Automobile Association raised its position in shares of Aerohive Networks by 12.0% in the second quarter. United Services Automobile Association now owns 512,890 shares of the company’s stock valued at $3,395,000 after buying an additional 55,000 shares during the period. Finally, Boston Partners purchased a new position in shares of Aerohive Networks during the second quarter valued at approximately $3,207,000. Hedge funds and other institutional investors own 46.95% of the company’s stock.
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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.