October 14, 2016 / 2:57 PM / in 9 months

BUZZ-Aerohive Networks Inc: Six-month low as revenue estimates miss

1 Min Read

** Cloud-based mobile network provider's shares down 6.8 pct at $5.24, their lowest since April

** Estimates Q3 revenue below estimates; Q4 revenue forecast also widely miss

** Goldman Sachs, JMP, Wunderlich, Piper Jaffray cut PTs; Wunderlich and Buckingham downgrade stock

** "Dell was not enough to help make up for E-rate and other factors in tough comparisons," Wunderlich analysts write

** Current valuation makes Aerohive attractive takeout candidate in an industry that has been consolidating - Piper Jaffray

** More than 970,000 shares traded, 6.2x their 30-day moving average

** 4 of 10 brokerages rate stock "buy" or higher, 5 "hold" and 1 "sell"; median PT is $6.75

** Up to Thursday's close, stock had risen 10.2 pct YTD

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