According to Zacks, “Aerohive Networks Inc. designs and develops a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s cloud-managed mobile networking platform consists of four components: Cloud Services Platform, HiveOS operating system, client management software and its portfolio of hardware products. It serves the healthcare, education, manufacturing, distribution, and retail industries throughout the United States. Aerohive Networks, Inc. is headquartered in Sunnyvale, California. “
Several other equities analysts have also issued reports on HIVE. JMP Securities dropped their price target 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. Wunderlich started coverage on Aerohive Networks in a research note on Wednesday, June 8th. They issued a buy rating and a $8.00 price target on the stock. Finally, Piper Jaffray Cos. reissued an overweight rating and issued a $7.50 price target (up from $7.20) on shares of Aerohive Networks in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Aerohive Networks presently has a consensus rating of Buy and an average price target of $7.57.
Aerohive Networks (NYSE:HIVE) opened at 5.90 on Wednesday. The company’s market capitalization is $257.28 million. Aerohive Networks has a 52 week low of $4.08 and a 52 week high of $7.48. The stock’s 50 day moving average is $6.35 and its 200 day moving average is $6.31.
Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. The company had revenue of $47.63 million for the quarter, compared to analyst estimates of $47.44 million. Aerohive Networks had a negative return on equity of 106.44% and a negative net margin of 21.86%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) earnings per share. Analysts predict that Aerohive Networks will post ($0.18) EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in HIVE. Boston Partners purchased a new stake in 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 period. 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 period. 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 period. Finally, Renaissance Technologies LLC increased its stake in shares of Aerohive Networks by 54.9% in the first quarter. Renaissance Technologies LLC now owns 396,900 shares of the company’s stock valued at $1,981,000 after buying an additional 140,700 shares during the period. 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.
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