Piper Jaffray Starts Aerohive Networks (HIVE) at Overweight

Piper Jaffray initiates coverage on Aerohive Networks (NYSE: HIVE) with a Overweight rating and a price target of $14.00.

Analyst Troy Jensen said, "In our view, Aerohive is one of the better positioned companies to take advantage of the impressive growth in WLAN equipment and services. HIVE is uniquely positioned to take advantage from both the migration to controller-less architectures and cloud-based service offerings, which are the two fastest- growing subsegments of the WLAN market. We believe the WLAN market will grow mid-teens for the next several years and expect Aerohive to take share in this rapidly growing space. The company's compelling product positioning coupled with what we believe is an attractive valuation (trading at 2.2x CY15E EV/Sales) is the basis for our Overweight rating on HIVE shares."

For an analyst ratings summary and ratings history on Aerohive Networks click here. For more ratings news on Aerohive Networks click here.

Shares of Aerohive Networks closed at $10.54 yesterday.

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