Craig Hallum Issues Positive Forecast for Extreme Networks (NASDAQ:EXTR) Stock Price

Extreme Networks (NASDAQ:EXTR) had its price target upped by Craig Hallum from $17.00 to $22.50 in a research note issued to investors on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the technology company’s stock.

EXTR has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. Rosenblatt Securities boosted their price objective on shares of Extreme Networks from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Trading Up 1.1 %

Shares of Extreme Networks stock opened at $15.09 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -15.56, a price-to-earnings-growth ratio of 3.44 and a beta of 1.77. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $18.77. The company’s 50-day simple moving average is $14.88 and its 200-day simple moving average is $13.35.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The business had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. During the same period last year, the company posted $0.24 earnings per share. The business’s quarterly revenue was down 29.5% on a year-over-year basis. As a group, equities research analysts anticipate that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Raj Khanna sold 10,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,175 shares of company stock valued at $1,763,279. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Extreme Networks during the first quarter worth approximately $27,000. GAMMA Investing LLC boosted its stake in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after buying an additional 1,035 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after acquiring an additional 4,709 shares during the last quarter. Gladius Capital Management LP bought a new stake in Extreme Networks in the second quarter valued at about $90,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Extreme Networks during the 2nd quarter valued at approximately $148,000. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.