Aerohive (HIVE) Shares Move Up On Dell Agreement

Shares of Aerohive Networks, Inc. (HIVE) were surging 16.50% in morning trading Monday, after the company announced that Dell will resell Aerohive’s solutions worldwide, offering Dell’s customers the combination of Aerohive’s Wi-Fi and cloud services. Under the agreement  Dell is reselling Aerohive’s award-winning cloud-managed Wi-Fi solutions alongside other Dell products.

“Our customers want a simpler, more scalable, and cost-effective wireless network solution,” stated Tom Burns, vice president and general manager, Dell Networking & Enterprise Infrastructure. “As IT moves to the cloud, we think the combination of Dell’s ability to connect to customers combined with Aerohive’s cloud Wi-Fi solutions will deliver a next-generation solution to our customers.”

HIVE shares recently gained $0.93 to $6.18. Fundamentally, the name shows the following financial data:

  • $98.04 million in cash in most recent quarter
  • $144.25 million t-12 total assets
  • $58.16 million total equity
  • $137.29 million t-12 revenue
  • ($30.56) million annual net income
  • ($11.13) million free cash flow

On valuation measures, Aerohive Networks Inc. shares have a T-12 price/sales ratio of 1.67 and a price/book for the same period of 4.16. EPS is ($0.68). Ticker has a market cap of $285.31 million and a median Wall Street price target of $5.88 with a high target of $8.00. Currently there are 5 analysts that rate HIVE a ‘Buy’, 5 rate it a ‘Hold’. No analyst rates it a ‘Sell’.

In terms of share statistics, Aerohive Networks Inc. has a total of 46.61 million shares outstanding with 1.75% held by insiders and 10.30% held by institutions. The stock’s short interest currently stands at 8.92%, bringing the total number of shares sold short to 1.28 million.

Shares of Sunnyvale, Calif.-based developer of cloud-managed mobile networking platforms are down 39% year-over-year ; up 27.50% year-to-date.

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