Extreme Networks (NASDAQ:EXTR) Downgraded to Buy at StockNews.com

StockNews.com cut shares of Extreme Networks (NASDAQ:EXTRGet Rating) from a strong-buy rating to a buy rating in a research note published on Tuesday morning.

EXTR has been the subject of a number of other reports. Rosenblatt Securities increased their price target on Extreme Networks to $20.00 in a research report on Monday, August 29th. B. Riley raised their target price on Extreme Networks from $17.00 to $18.00 in a research report on Thursday, July 28th. Needham & Company LLC raised their target price on Extreme Networks from $13.50 to $14.50 and gave the stock a buy rating in a research report on Thursday, July 28th. Finally, Westpark Capital began coverage on Extreme Networks in a research report on Tuesday, September 13th. They issued a buy rating for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $17.38.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $13.10 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.98 and a debt-to-equity ratio of 2.99. The company has a market cap of $1.72 billion, a PE ratio of 38.53 and a beta of 2.05. The business has a 50 day moving average price of $13.11 and a 200-day moving average price of $11.37. Extreme Networks has a 52 week low of $8.49 and a 52 week high of $16.60.

Extreme Networks (NASDAQ:EXTRGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The technology company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $278.20 million during the quarter, compared to the consensus estimate of $268.96 million. Extreme Networks had a return on equity of 82.16% and a net margin of 3.98%. Extreme Networks’s revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $0.12 earnings per share. Equities analysts anticipate that Extreme Networks will post 0.68 earnings per share for the current fiscal year.

Insider Transactions at Extreme Networks

In related news, Director Raj Khanna sold 20,000 shares of Extreme Networks stock in a transaction on Monday, August 29th. The stock was sold at an average price of $15.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 230,746 shares of the company’s stock, valued at $3,461,190. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Raj Khanna sold 20,000 shares of Extreme Networks stock in a transaction on Monday, August 29th. The stock was sold at an average price of $15.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 230,746 shares of the company’s stock, valued at $3,461,190. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Joseph A. Vitalone sold 35,372 shares of Extreme Networks stock in a transaction on Monday, August 29th. The shares were sold at an average price of $15.00, for a total value of $530,580.00. Following the sale, the executive now directly owns 41,298 shares of the company’s stock, valued at approximately $619,470. The disclosure for this sale can be found here. Insiders sold 132,054 shares of company stock valued at $1,733,210 over the last three months. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its stake in Extreme Networks by 28.4% during the first quarter. Los Angeles Capital Management LLC now owns 159,132 shares of the technology company’s stock worth $1,943,000 after purchasing an additional 35,236 shares during the last quarter. Strs Ohio increased its holdings in shares of Extreme Networks by 9.1% in the first quarter. Strs Ohio now owns 39,600 shares of the technology company’s stock worth $483,000 after buying an additional 3,300 shares during the period. Engineers Gate Manager LP increased its holdings in shares of Extreme Networks by 89.3% in the first quarter. Engineers Gate Manager LP now owns 247,558 shares of the technology company’s stock worth $3,023,000 after buying an additional 116,748 shares during the period. Jennison Associates LLC increased its holdings in shares of Extreme Networks by 3.6% in the first quarter. Jennison Associates LLC now owns 88,481 shares of the technology company’s stock worth $1,080,000 after buying an additional 3,077 shares during the period. Finally, State of Tennessee Treasury Department increased its holdings in shares of Extreme Networks by 26.7% in the first quarter. State of Tennessee Treasury Department now owns 141,626 shares of the technology company’s stock worth $1,729,000 after buying an additional 29,885 shares during the period. Institutional investors own 85.00% of the company’s stock.

About Extreme Networks

(Get Rating)

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.

See Also

Receive News & Ratings for Extreme Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extreme Networks and related companies with MarketBeat.com's FREE daily email newsletter.