Equities research analysts predict that Aerohive Networks Inc (NYSE:HIVE) will announce $42.22 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Aerohive Networks’ earnings. The highest sales estimate is $43.26 million and the lowest is $40.4 million. Aerohive Networks reported sales of $47.63 million during the same quarter last year, which would suggest a negative year over year growth rate of 11.4%. The firm is scheduled to report its next earnings results on Wednesday, August 2nd.
On average, analysts expect that Aerohive Networks will report full year sales of $42.22 million for the current fiscal year, with estimates ranging from $163.4 million to $172.4 million. For the next year, analysts anticipate that the firm will post sales of $190.54 million per share, with estimates ranging from $180 million to $196.5 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Aerohive Networks.
Aerohive Networks (NYSE:HIVE) last posted its earnings results on Wednesday, May 3rd. The communications equipment provider reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.09. Aerohive Networks had a negative return on equity of 107.34% and a negative net margin of 21.26%. The business had revenue of $36.35 million during the quarter, compared to analysts’ expectations of $35.88 million. During the same period in the previous year, the business earned ($0.13) earnings per share. The firm’s revenue was down 9.4% on a year-over-year basis.
A number of equities research analysts have issued reports on the company. JMP Securities lowered Aerohive Networks from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $4.99 to $5.24 in a research note on Monday, February 6th. Wunderlich upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Thursday, May 4th. Finally, William Blair restated an “outperform” rating on shares of Aerohive Networks in a research report on Wednesday, February 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $6.61.
Several hedge funds and other institutional investors have recently modified their holdings of HIVE. Teza Capital Management LLC purchased a new position in shares of Aerohive Networks during the fourth quarter worth $114,000. Trexquant Investment LP purchased a new position in shares of Aerohive Networks during the first quarter worth $121,000. Stoneridge Investment Partners LLC purchased a new position in shares of Aerohive Networks during the first quarter worth $134,000. SECOR Capital Advisors LP purchased a new position in shares of Aerohive Networks during the third quarter worth $374,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of Aerohive Networks by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 109,437 shares of the communications equipment provider’s stock worth $461,000 after buying an additional 948 shares during the last quarter. Hedge funds and other institutional investors own 51.35% of the company’s stock.
Aerohive Networks (NYSE:HIVE) traded up 0.868% during trading on Wednesday, reaching $4.065. The company had a trading volume of 39,826 shares. Aerohive Networks has a one year low of $3.66 and a one year high of $7.45. The firm’s market capitalization is $177.26 million. The firm’s 50-day moving average price is $4.02 and its 200 day moving average price is $4.98.
Aerohive Networks Company Profile
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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