Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Rating of “Hold” from Brokerages

Shares of Extreme Networks, Inc. (NASDAQ:EXTRGet Free Report) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $22.36.

EXTR has been the topic of several analyst reports. Lake Street Capital downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Rosenblatt Securities downgraded Extreme Networks from a “buy” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $15.00 in a research note on Thursday, February 1st. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. B. Riley lowered their target price on Extreme Networks from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. Finally, Oppenheimer downgraded Extreme Networks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st.

Check Out Our Latest Research Report on Extreme Networks

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 28,443 shares of Extreme Networks stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total transaction of $376,585.32. Following the completion of the transaction, the chief executive officer now directly owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extreme Networks

Hedge funds and other institutional investors have recently bought and sold shares of the company. West Tower Group LLC acquired a new position in shares of Extreme Networks in the second quarter worth $28,000. Meeder Asset Management Inc. raised its holdings in shares of Extreme Networks by 49.8% in the fourth quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company’s stock worth $33,000 after acquiring an additional 592 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Extreme Networks by 4,924.4% in the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock worth $36,000 after acquiring an additional 2,019 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Extreme Networks in the third quarter worth $37,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Extreme Networks in the third quarter worth $41,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Trading Up 0.1 %

NASDAQ:EXTR opened at $12.59 on Tuesday. The stock’s 50 day moving average price is $16.40 and its 200 day moving average price is $20.89. The company has a market capitalization of $1.62 billion, a PE ratio of 20.98, a P/E/G ratio of 4.48 and a beta of 1.95. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. Extreme Networks has a 52-week low of $12.11 and a 52-week high of $32.73.

About Extreme Networks

(Get Free Report

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.

Further Reading

Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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