William Blair Starts Aerohive Networks (HIVE) at Outperform

William Blair initiates coverage on Aerohive Networks (NYSE: HIVE) with a Outperform rating.

Analyst Jason Ader notes enterprise Wi-Fi is riding strong secular waves. He said, " Enterprise Wi-Fi is in the midst of a transition from a nice-to-have network overlay to the central infrastructure element at the network edge. Driving this transition are wireless initiatives in key vertical markets such as education, healthcare, and retail, and the bring-your-own-device (BYOD) phenomenon in general enterprise organizations. We expect the introduction of the 802.11ac Wi-Fi standard, which enables connection speeds on par with 1 GB wired networks, to further accelerate the shift to mobility-centric networking. Gartner expects the $4.5 billion enterprise wireless local area network (WLAN) market to grow at a 15.5% compound annual rate through 2017."

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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