Extreme Networks (NASDAQ:EXTR) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Extreme Networks (NASDAQ:EXTR) from a hold rating to a buy rating in a research note published on Friday.

Other equities analysts have also issued reports about the company. Rosenblatt Securities increased their price objective on Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. B. Riley increased their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. Finally, Craig Hallum increased their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Stock Performance

Shares of NASDAQ:EXTR traded up $0.16 during midday trading on Friday, reaching $15.09. 1,441,937 shares of the company traded hands, compared to its average volume of 1,870,505. 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 has a 12 month low of $10.49 and a 12 month high of $18.77. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -15.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76. The firm’s fifty day moving average price is $14.88 and its two-hundred day moving average price is $13.32.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data 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). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The company had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. On average, equities analysts expect that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,754,637.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the sale, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,175 shares of company stock worth $1,763,279 in the last ninety days. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Extreme Networks

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. lifted its holdings in Extreme Networks by 33.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 106,924 shares of the technology company’s stock worth $1,607,000 after buying an additional 26,553 shares during the period. Dash Acquisitions Inc. lifted its stake in shares of Extreme Networks by 55.9% in the 3rd quarter. Dash Acquisitions Inc. now owns 20,986 shares of the technology company’s stock valued at $301,000 after purchasing an additional 7,521 shares during the period. Andina Capital Management LLC lifted its stake in shares of Extreme Networks by 4.1% in the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock valued at $307,000 after purchasing an additional 795 shares during the period. Aquila Investment Management LLC purchased a new position in shares of Extreme Networks in the 3rd quarter valued at approximately $962,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Extreme Networks by 134.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,700 shares of the technology company’s stock valued at $176,000 after purchasing an additional 6,703 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.