Lake Street Capital Forecasts Strong Price Appreciation for Extreme Networks (NASDAQ:EXTR) Stock

Extreme Networks (NASDAQ:EXTR) had its target price lifted by equities research analysts at Lake Street Capital from $15.00 to $16.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Lake Street Capital’s price target suggests a potential upside of 1.20% from the company’s previous close.

EXTR has been the subject of a number of other research reports. Craig Hallum raised their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. B. Riley lifted their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities increased their price objective on shares of Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Thursday. Finally, StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

Extreme Networks Trading Up 1.3 %

EXTR opened at $15.81 on Thursday. The stock has a market cap of $2.09 billion, a PE ratio of -16.82, a PEG ratio of 3.44 and a beta of 1.75. The business has a 50 day moving average of $17.18 and a 200-day moving average of $15.61. Extreme Networks has a 52 week low of $10.49 and a 52 week high of $19.24. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 117.77%. Equities research analysts predict that Extreme Networks will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Extreme Networks

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the sale, the director now directly owns 366,793 shares of the company’s stock, valued at approximately $6,125,443.10. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in Extreme Networks during the third quarter valued at about $26,000. Byrne Asset Management LLC purchased a new stake in Extreme Networks in the 4th quarter worth approximately $30,000. GAMMA Investing LLC raised its stake in Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,035 shares during the period. Pacer Advisors Inc. lifted its holdings in Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after purchasing an additional 741 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Extreme Networks by 146.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock worth $83,000 after purchasing an additional 2,935 shares during the period. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Company Profile

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.