Wunderlich Starts Coverage On Aerohive With An $8.00 Target
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."
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 2016||DA Davidson||Initiates Coverage On||Buy|
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