Aerohive Networks (NYSE:HIVE) Posts Quarterly Earnings Results

Aerohive Networks (NYSE:HIVE) released its quarterly earnings results on Thursday, February 8th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, Briefing.com reports. The firm had revenue of $37.20 million for the quarter, compared to analyst estimates of $37.04 million. Aerohive Networks had a negative net margin of 14.99% and a negative return on equity of 92.83%. The firm’s revenue was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS.

Aerohive Networks (NYSE HIVE) traded up $0.03 during trading hours on Friday, reaching $4.38. 387,004 shares of the company traded hands, compared to its average volume of 528,650. The firm has a market cap of $246.02, a PE ratio of -10.19 and a beta of 1.29. Aerohive Networks has a 1 year low of $3.02 and a 1 year high of $6.50. The company has a current ratio of 2.19, a quick ratio of 1.95 and a debt-to-equity ratio of 0.94.

HIVE has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Aerohive Networks from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Dougherty & Co downgraded shares of Aerohive Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 17th. Finally, ValuEngine raised shares of Aerohive Networks from a “strong sell” rating to a “sell” rating in a research report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.25.

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Aerohive Networks by 15.8% during the 2nd quarter. State Street Corp now owns 379,843 shares of the communications equipment provider’s stock valued at $1,902,000 after purchasing an additional 51,774 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Aerohive Networks by 15.3% in the 2nd quarter. California State Teachers Retirement System now owns 55,641 shares of the communications equipment provider’s stock valued at $278,000 after buying an additional 7,400 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Aerohive Networks by 31.8% in 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. Hedge funds and other institutional investors own 43.60% of the company’s stock.

WARNING: This piece was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://ledgergazette.com/2018/02/16/aerohive-networks-hive-announces-earnings-results.html.

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.

Earnings History for Aerohive Networks (NYSE:HIVE)

Receive News & Ratings for Aerohive Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerohive Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply