Market Overview

Wunderlich Starts Coverage On Aerohive With An $8.00 Target

Wunderlich Starts Coverage On Aerohive With An $8.00 Target
Related HIVE
Aerohive Networks Is A 'Wireless Specialist Poised To Take Market Share'
16 Stocks Moving In Friday's Pre-Market Session

Wunderlich's Matthew Robison initiated Aerohive Networks Inc (NYSE: HIVE) at Buy with a price target of $8.00.

"We believe the Aerohive architecture provides an exceptionally elegant solution for networks focused on total cost of ownership," said Robison. The analyst praised Aerohives "bee-like autonomy and productivity" which yielded labor savings "to offset the cost of decentralized resources."

Decreasing Cyclicality

Additionally, the Wunderlich analyst noted Aerohive's growing diverse customer base in retail, healthcare and education. This diversity "has reduced periodic revenue concentration somewhat," said the Robison. The analyst believed the company would sell to an even wider set of industries in the future and expected Aerohive to first yield share gains in early 2Q16.

At the time of writing, Aerohive Networks traded at $6.18.

Latest Ratings for HIVE

Dec 2016DA DavidsonInitiates Coverage OnBuy
Oct 2016BuckinghamDowngradesNeutral
Oct 2016WunderlichDowngradesBuyHold

View More Analyst Ratings for HIVE
View the Latest Analyst Ratings

Posted-In: Matthew Robinson WunderlicAnalyst Color Price Target Initiation Analyst Ratings


Related Articles (HIVE)

View Comments and Join the Discussion!