Aerohive Networks Inc. (NYSE:HIVE) has earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the firm. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.57.

HIVE has been the subject of a number of recent analyst reports. JMP Securities cut their price objective on shares of Aerohive Networks from $10.00 to $9.00 and set a “market outperform” rating for the company in a report on Thursday, August 4th. Zacks Investment Research raised shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Tuesday, August 9th. Wunderlich assumed coverage on shares of Aerohive Networks in a research note on Wednesday, June 8th. They set a “buy” rating and a $8.00 target price for the company. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $7.50 target price (up previously from $7.20) on shares of Aerohive Networks in a research note on Friday, August 5th.

Aerohive Networks (NYSE:HIVE) opened at 6.23 on Thursday. The company’s market cap is $271.67 million. Aerohive Networks has a one year low of $4.08 and a one year high of $7.48. The company has a 50 day moving average of $6.68 and a 200-day moving average of $6.24.

Aerohive Networks (NYSE:HIVE) last posted its earnings results 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. The company 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 quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.14) earnings per share. On average, equities analysts expect that Aerohive Networks will post ($0.18) earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its position in Aerohive Networks by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 62,437 shares of the company’s stock worth $414,000 after buying an additional 1,008 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in Aerohive Networks during the second quarter worth $168,000. Murphy Michael R raised its position 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 last quarter. Citadel Advisors LLC acquired a new position in Aerohive Networks during the second quarter worth $208,000. Finally, State Street Corp raised its position 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 last quarter. Hedge funds and other 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.

5 Day Chart for NYSE:HIVE

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