Aerohive Networks Inc (HIVE) was Downgraded by Wunderlich to ” Hold” while Lowering the Price Target of the company shares to $ 5 from a previous price target of $8 . Earlier the firm had a rating of “Buy ” on the company shares. Wunderlich advised their investors in a research report released on Oct 14, 2016.
On the company’s financial health, Aerohive Networks Inc reported $-0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.06. The company had revenue of $47.63 million for the quarter, 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.
Aerohive Networks Inc closed down -0.19 points or -3.20% at $5.75 with 79,750 shares getting traded on Tuesday. Post opening the session at $5.88, the shares hit an intraday low of $5.74 and an intraday high of $5.89 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.