Aerohive Networks Inc (NYSE:HIVE) has earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $5.85.
Several brokerages have commented on HIVE. Zacks Investment Research upgraded shares of Aerohive Networks from a “sell” rating to a “buy” rating and set a $4.75 price target on the stock in a research note on Wednesday. Pi Financial decreased their price target on shares of Aerohive Networks from $5.25 to $4.50 in a research note on Friday, March 2nd. Finally, Dougherty & Co cut shares of Aerohive Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 17th.
Shares of HIVE stock opened at $4.27 on Wednesday. The company has a market cap of $238.40, a price-to-earnings ratio of -10.17 and a beta of 1.18. Aerohive Networks has a one year low of $3.02 and a one year high of $6.50. The company has a quick ratio of 1.99, a current ratio of 2.24 and a debt-to-equity ratio of 0.91.
Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings results on Thursday, February 8th. The communications equipment provider reported ($0.06) EPS for the quarter. The company had revenue of $37.20 million during the quarter, compared to analysts’ expectations of $37.04 million. Aerohive Networks had a negative return on equity of 94.14% and a negative net margin of 14.99%. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. equities analysts forecast that Aerohive Networks will post -0.31 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP purchased a new stake in shares of Aerohive Networks during the 3rd quarter valued at about $112,000. Koch Industries Inc. purchased a new stake in shares of Aerohive Networks during the 4th quarter valued at about $122,000. Wells Fargo & Company MN raised its position in shares of Aerohive Networks by 66.6% during the 3rd quarter. Wells Fargo & Company MN now owns 34,691 shares of the communications equipment provider’s stock valued at $142,000 after buying an additional 13,865 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Aerohive Networks by 31.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock valued at $150,000 after buying an additional 7,258 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Aerohive Networks during the 4th quarter valued at about $215,000. Hedge funds and other institutional investors own 46.75% of the company’s stock.
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About Aerohive Networks
Aerohive Networks, Inc together with its subsidiaries, has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy and manage a mobile-centric network edge. Its portfolio of products and solutions is built around sets of technologies and solutions, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights.
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