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

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have 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 issued a report on the stock in the last year is $15.90.

EXTR has been the subject of a number of research analyst reports. Craig Hallum lifted their price target on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th.

Insider Activity

In related 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 transaction of $526,943.75. Following the completion of the sale, the chief executive officer now directly 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 this link. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in Extreme Networks by 101.8% during the 1st quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock worth $5,051,000 after acquiring an additional 220,763 shares during the last quarter. Mirador Capital Partners LP increased its position in shares of Extreme Networks by 68.1% in the 1st quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock valued at $2,850,000 after buying an additional 100,075 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Extreme Networks by 297.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock valued at $1,081,000 after buying an additional 60,131 shares in the last quarter. M&G Plc acquired a new stake in Extreme Networks during the 1st quarter worth $4,175,000. Finally, Victory Capital Management Inc. lifted its holdings in Extreme Networks by 373.4% during the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after acquiring an additional 841,395 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Trading Down 0.6 %

Shares of Extreme Networks stock opened at $15.06 on Friday. Extreme Networks has a 12-month low of $10.49 and a 12-month high of $22.25. The stock has a market capitalization of $1.96 billion, a P/E ratio of -215.14, a price-to-earnings-growth ratio of 3.56 and a beta of 1.76. The company has a 50-day simple moving average of $14.85 and a 200 day simple moving average of $13.08. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 7.05.

Extreme Networks (NASDAQ:EXTR) last posted 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). The firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The business’s revenue was down 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. Research analysts expect that Extreme Networks will post 0.25 earnings per share for the current fiscal year.

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.