Buckingham Research lowered shares of Aerohive Networks Inc. (NYSE:HIVE) from a buy rating to a neutral rating in a research report released on Friday. The brokerage currently has $5.00 price objective on the stock, down from their previous price objective of $8.00.
A number of other research analysts also recently weighed in on HIVE. Piper Jaffray Cos. reaffirmed an overweight rating and issued a $7.50 target price (up previously from $7.20) on shares of Aerohive Networks in a research report on Friday, August 5th. Zacks Investment Research downgraded shares of Aerohive Networks from a buy rating to a hold rating in a research report on Wednesday, October 5th. Finally, JMP Securities decreased their target price on shares of Aerohive Networks from $10.00 to $9.00 and set a market outperform rating for the company in a research report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $6.63.
Aerohive Networks (NYSE:HIVE) opened at 5.30 on Friday. The stock’s 50 day moving average is $6.10 and its 200-day moving average is $6.35. The firm’s market cap is $231.11 million. Aerohive Networks has a 12 month low of $4.08 and a 12 month high of $7.48.
Aerohive Networks (NYSE:HIVE) last released its earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The business earned $47.63 million during the quarter, compared to the consensus estimate of $47.44 million. Aerohive Networks had a negative net margin of 21.86% and a negative return on equity of 106.44%. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) earnings per share. On average, analysts anticipate that Aerohive Networks will post ($0.18) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Boston Partners bought a new stake in shares of Aerohive Networks during the second quarter valued at approximately $3,207,000. Murphy Michael R increased its stake 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 last quarter. Granahan Investment Management Inc. MA increased its stake 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 last quarter. Mutual of America Capital Management LLC increased its stake 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 valued at $3,136,000 after buying an additional 163,393 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Aerohive Networks during the second quarter valued at approximately $728,000. 46.90% of the stock is owned by institutional investors and hedge funds.
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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