Analyst Update: ARM Holdings plc (ADR), Aerohive Networks Inc, and Gilead Sciences, Inc.

Analysts adjusted their ratings on ARM Holdings plc (ADR) (ARMH), Aerohive Networks Inc (HIVE), and Gilead Sciences, Inc. (GILD)

by Mark Fightmaster

Published on Aug 26, 2015 at 1:32 PM

Analysts are weighing in today on tech company ARM Holdings plc (ADR) (NASDAQ:ARMH), cloud firm Aerohive Networks Inc (NYSE:HIVE), and biopharmaceutical concern Gilead Sciences, Inc. (NASDAQ:GILD). Here's a quick roundup of today's brokerage notes on ARMH, HIVE, and GILD.

  • ARMH is up 1.3% at $40.53, after an upgrade from Bernstein. The brokerage house raised its rating on ARM Holdings plc (ADR) to "market perform" from "underperform." Technically, ARMH has pulled back along with the broader equities market -- and is now in oversold territory -- but seems to have found potential support from its 50-month moving average. Short sellers have been upping the bearish ante, as short interest rose 33.3% during the past two reporting periods. 
  • HIVE is sitting out the broad-market bounce today. The stock is more than 14% lower at $5.89 this afternoon, due to a relatively rare negative analyst note. Specifically, BofA-Merrill Lynch downgraded Aerohive Networks Inc to "underperform" from "buy," and cut its price target to $7 from $9. The bearish move was attributed to the company's weakening technical uniqueness versus Cisco Systems, Inc. (NASDAQ:CSCO). On the charts, HIVE has given up nearly 24% in August, and is now testing a foothold atop its 10-month moving average.
  • We wrap up today with GILD, which is 1.5% higher at $104.08, after Morgan Stanley raised its price target to $127 from $125 and reiterated an "overweight" rating. Technically, the stock is still battling overhead resistance from its 40-week moving average, which is a rather significant level of past support. Most analysts are already bullish on Gilead Sciences, Inc., which boasts 14 "buy" or better ratings, compared to one "hold" and a lone "sell."

For other stocks in analysts' crosshairs, read Analyst Upgrades: Amazon.com, Inc., Google Inc, and Oshkosh Corporation and Analyst Downgrades: Schlumberger Limited, GrubHub Inc, and Trina Solar Limited.


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