Craig Hallum Issues Positive Forecast for Extreme Networks (NASDAQ:EXTR) Stock Price

Extreme Networks (NASDAQ:EXTR) had its price target boosted by Craig Hallum from $17.00 to $22.50 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective points to a potential upside of 47.93% from the stock’s current price.

Other analysts have also issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Rosenblatt Securities boosted their price objective on Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Extreme Networks has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

Extreme Networks Stock Performance

Shares of EXTR traded down $0.71 during mid-day trading on Thursday, hitting $15.21. 375,375 shares of the company traded hands, compared to its average volume of 1,863,510. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -218.71, a P/E/G ratio of 3.37 and a beta of 1.76. The stock has a 50-day moving average price of $14.88 and a two-hundred day moving average price of $13.28. Extreme Networks has a 1 year low of $10.49 and a 1 year high of $20.83. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.63 and a current ratio of 0.90.

Extreme Networks (NASDAQ:EXTR) last released its quarterly 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 analysts’ expectations of $253.21 million. Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The business’s quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter last year, the business earned $0.24 earnings per share. Equities analysts anticipate that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.32% of the stock is currently owned by company insiders.

Institutional Trading of Extreme Networks

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew 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 purchasing an additional 1,035 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Extreme Networks in the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC boosted its position in shares of Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after acquiring an additional 4,709 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of Extreme Networks in the second quarter valued at $90,000. Finally, Hennessy Advisors Inc. bought a new stake in Extreme Networks in the second quarter worth $148,000. 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.