Aerohive Networks Receives Buy Rating from Goldman Sachs (HIVE)

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Aerohive Networks (NASDAQ:HIVE)‘s stock had its “buy” rating reaffirmed by investment analysts at Goldman Sachs in a note issued to investors on Friday, StockRatingsNetwork reports. They currently have a $13.00 target price on the stock. Goldman Sachs’ price objective indicates a potential upside of 29.61% from the stock’s previous close.

Shares of Aerohive Networks (NASDAQ:HIVE) opened at 9.77 on Friday. Aerohive Networks has a 52-week low of $8.00 and a 52-week high of $12.23. The stock’s 50-day moving average is $10.14 and its 200-day moving average is $10.14. The company’s market cap is $426.0 million.

Aerohive Networks (NASDAQ:HIVE) last released its earnings data on Thursday, May 8th. The company reported ($0.97) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($1.32) by $0.35. The company had revenue of $28.20 million for the quarter, compared to the consensus estimate of $26.08 million. The company’s quarterly revenue was up 42.4% on a year-over-year basis. Analysts expect that Aerohive Networks will post $-0.55 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at William Blair reiterated an “outperform” rating on shares of Aerohive Networks in a research note on Friday. Separately, analysts at BofA Merrill Lynch reiterated a “buy” rating on shares of Aerohive Networks in a research note on Friday, May 9th. They now have a $13.00 price target on the stock. Finally, analysts at JMP Securities reiterated an “outperform” rating on shares of Aerohive Networks in a research note on Thursday, May 8th. They now have a $14.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Aerohive Networks currently has an average rating of “Buy” and an average price target of $13.40.

Aerohive Networks, Inc has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge.

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