Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Recommendation of “Moderate Buy” from Analysts

Extreme Networks, Inc. (NASDAQ:EXTR) has been assigned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $20.30.

Several equities research analysts have recently weighed in on EXTR shares. Craig Hallum raised their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. B. Riley raised their target price 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 reissued a “buy” rating and set a $22.00 target price on shares of Extreme Networks in a research report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. Finally, Lake Street Capital raised their price target on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th.

Extreme Networks Price Performance

EXTR opened at $15.22 on Friday. The stock’s 50-day moving average price is $16.70 and its 200 day moving average price is $15.82. Extreme Networks has a 12-month low of $10.49 and a 12-month high of $19.24. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -16.19, a PEG ratio of 3.10 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR) last posted its 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, sell-side analysts expect that Extreme Networks will post 0.31 earnings per share for the current year.

Extreme Networks declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now directly owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the transaction, the director now owns 366,793 shares in the company, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp lifted its holdings in shares of Extreme Networks by 123.8% in the 4th quarter. Mackenzie Financial Corp now owns 52,804 shares of the technology company’s stock valued at $884,000 after buying an additional 29,214 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Extreme Networks by 397,835.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company’s stock valued at $38,103,000 after buying an additional 2,275,619 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Extreme Networks in the 4th quarter valued at approximately $33,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Extreme Networks by 24.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,225 shares of the technology company’s stock valued at $4,976,000 after buying an additional 57,810 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Extreme Networks by 48.0% in the 4th quarter. ProShare Advisors LLC now owns 38,924 shares of the technology company’s stock valued at $652,000 after buying an additional 12,622 shares during the period. 91.05% of the stock is currently owned by hedge funds and other 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.