Extreme Networks’ (EXTR) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a report issued on Friday,Benzinga reports. They currently have a $22.00 target price on the technology company’s stock.

Several other research analysts have also recently commented on EXTR. Craig Hallum boosted their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Lake Street Capital increased their target price on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th. Finally, B. Riley raised their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Extreme Networks has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Extreme Networks Stock Down 0.6 %

Shares of NASDAQ:EXTR opened at $15.39 on Friday. The company has a 50 day moving average of $17.07 and a two-hundred day moving average of $15.69. 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 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -16.37, a price-to-earnings-growth ratio of 2.99 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. As a group, analysts forecast that Extreme Networks will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles Carinalli sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total value of $80,300.00. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,725 shares of company stock worth $713,608 over the last ninety days. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds have recently added to or reduced their stakes in EXTR. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Extreme Networks in the 3rd quarter worth about $651,000. Lisanti Capital Growth LLC grew its position in Extreme Networks by 61.0% in the 3rd quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock worth $2,938,000 after purchasing an additional 74,080 shares during the last quarter. Barclays PLC increased its stake in shares of Extreme Networks by 369.8% in the third quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after purchasing an additional 171,500 shares during the period. Aquila Investment Management LLC bought a new stake in shares of Extreme Networks during the third quarter valued at approximately $962,000. Finally, Victory Capital Management Inc. boosted its position in shares of Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after buying an additional 3,399,288 shares during the period. 91.05% of the stock is currently owned by institutional investors.

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.