Aerohive Networks Inc (HIVE) Releases Earnings Results, Beats Expectations By $0.04 EPS

Aerohive Networks Inc (HIVE) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $-0.02 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.06. The company posted revenue of $47.63 million in the period, compared to analysts expectations of $47.42 million. The company’s revenue was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.14 EPS.

Many Wall Street Analysts have commented on Aerohive Networks Inc. Wunderlich Initiated Aerohive Networks Inc on Jun 8, 2016 to “Buy”, Price Target of the shares are set at $8.

Aerohive Networks Inc closed down -0.17 points or -2.33% at $7.13 with 1,34,597 shares getting traded on Tusday. Post opening the session at $7.3, the shares hit an intraday low of $7.13 and an intraday high of $7.3 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

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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