Aerohive Networks Inc (HIVE) is Initiated by Wunderlich to Buy, Price Target at $8

Aerohive Networks Inc (HIVE) was Initiated by Wunderlich to “Buy” and the brokerage firm has set the Price Target at $8. Wunderlich advised their investors in a research report released on Jun 8, 2016.

On the company’s financial health, Aerohive Networks Inc reported $-0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.16. The company had revenue of $40.10 million for the quarter, compared to analysts expectations of $39.59 million. The company’s revenue was up 55.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.26 EPS.

Aerohive Networks Inc opened for trading at $6.17 and hit $6.29 on the upside on Tuesday, eventually ending the session at $6.18, with a gain of 0.32% or 0.02 points. The heightened volatility saw the trading volume jump to 2,44,801 shares. Company has a market cap of $306 M.

In a different news, on May 27, 2016, Changming Liu (director) sold 3,000 shares at $6.34 per share price. According to the SEC, on Nov 9, 2015, Efstathios Papaefstathiou (SVP, Engineering) sold 27,308 shares at $6.45 per share price. On Sep 8, 2015, David K. Flynn (CEO) purchased 3,728 shares at $6.16 per share price, according to the Form-4 filing with the securities and exchange commission.

Aerohive Networks Inc. together with its subsidiaries has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s hardware products are managed by the Company’s Cloud Services Platform which delivers cloud-managed network management and mobility applications giving end customers a single unified and contextual view of the entire network edge. The Company conducts its business in three geographic regions: Americas; Europe the Middle East and Africa (EMEA) and Asia Pacific (APAC). The Company’s product portfolio includes hardware products cloud-based network management and applications and support services. The Company’s hardware products include access points branch routers and access switches. The Company’s cloud-based product offering includes HiveManager ID Manager Client Management and Social Login applications.

Aerohive Networks Inc

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