Aerohive Networks Inc. (NYSE:HIVE) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ($0.09)-($0.06) for the period, compared to the Thomson Reuters consensus estimate of $0.00. The company issued revenue guidance of $43-45 million, compared to the consensus revenue estimate of $50.70 million.Aerohive Networks also updated its Q3 guidance to ($0.07)-($0.06) EPS.
Several research firms have commented on HIVE. Wunderlich downgraded shares of Aerohive Networks from a buy rating to a hold rating and decreased their target price for the stock from $8.00 to $5.00 in a research report on Friday. Buckingham Research downgraded shares of Aerohive Networks from a buy rating to a neutral rating and decreased their price objective for the stock from $8.00 to $5.00 in a report on Friday. Piper Jaffray Cos. reaffirmed an overweight rating and set a $7.50 price objective (up from $7.20) on shares of Aerohive Networks in a report on Friday, August 5th. Goldman Sachs Group Inc. reaffirmed a neutral rating and set a $6.00 price objective (down from $7.00) on shares of Aerohive Networks in a report on Saturday. Finally, William Blair reaffirmed an outperform rating on shares of Aerohive Networks in a report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Aerohive Networks currently has an average rating of Hold and an average target price of $6.63.
Shares of Aerohive Networks Inc. (NYSE:HIVE) opened at 5.54 on Monday. The firm has a 50-day moving average of $6.19 and a 200-day moving average of $6.32. Aerohive Networks Inc. has a one year low of $4.08 and a one year high of $7.48. The company’s market capitalization is $241.58 million.
Aerohive Networks (NYSE:HIVE) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. The firm had revenue of $47.63 million for 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 business’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period last year, the company posted ($0.14) EPS. Equities research analysts expect that Aerohive Networks Inc. will post ($0.18) EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC acquired a new stake in Aerohive Networks during the second quarter worth about $168,000. Murphy Michael R increased its stake in Aerohive Networks by 12.4% in the second quarter. Murphy Michael R now owns 4,354,385 shares of the company’s stock worth $28,826,000 after buying an additional 479,740 shares during the period. Citadel Advisors LLC acquired a new stake in Aerohive Networks during the second quarter worth about $208,000. State Street Corp increased its stake in Aerohive Networks by 45.7% in the second quarter. State Street Corp now owns 324,760 shares of the company’s stock worth $2,151,000 after buying an additional 101,828 shares during the period. Finally, Rhumbline Advisers increased its stake in Aerohive Networks by 4.1% in the second quarter. Rhumbline Advisers now owns 22,091 shares of the company’s stock worth $146,000 after buying an additional 875 shares during the period. Institutional investors own 46.95% of the company’s stock.
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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