Aerohive Networks, Inc.
|Company Name||Aerohive Networks, Inc.|
On November 1, 2017, Aerohive’s CFO, John Ritchie, stated that the Company was expecting Q4 revenue in the range of $40 million to $42 million, and that Aerohive realized “significant sales efficiency” with non-GAAP sales and marketing costs.
Then, on January 16, 2018, Aerohive announced that it expected net revenue of only $37 million for Q4 due to “underlying sales execution issues.” On this news, Aerohive’s share price fell $1.63 per share or more than 29%, to close at $4.07 on January 17, 2018, thereby injuring investors.
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