Rosenblatt Securities Forecasts Strong Price Appreciation for Extreme Networks (NASDAQ:EXTR) Stock

Extreme Networks (NASDAQ:EXTR) had its price objective boosted by equities researchers at Rosenblatt Securities from $21.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 39.15% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Craig Hallum upped their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. B. Riley increased their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Extreme Networks Stock Up 1.3 %

Shares of NASDAQ:EXTR opened at $15.81 on Thursday. The firm has a market cap of $2.09 billion, a P/E ratio of -16.82, a P/E/G ratio of 3.44 and a beta of 1.75. Extreme Networks has a 12-month low of $10.49 and a 12-month high of $19.24. The business has a fifty day simple moving average of $17.18 and a 200 day simple moving average of $15.61. 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 issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 117.77% and a negative net margin of 11.98%. Analysts predict that Extreme Networks will post 0.27 earnings per share for the current year.

Insider Activity at Extreme Networks

In related news, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $16.06, for a total value of $80,300.00. Following the completion of the sale, the director now owns 371,793 shares of the company’s stock, valued at approximately $5,970,995.58. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EXTR. Quarry LP bought a new position in Extreme Networks in the 3rd quarter valued at about $26,000. Byrne Asset Management LLC bought a new position in shares of Extreme Networks in the fourth quarter valued at approximately $30,000. GAMMA Investing LLC boosted its position in shares of Extreme Networks by 109.5% during the third 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. Pacer Advisors Inc. grew 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 worth $52,000 after buying an additional 741 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Extreme Networks by 146.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock valued at $83,000 after acquiring an additional 2,935 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.