Extreme Networks (NASDAQ:EXTR) Raised to Buy at B. Riley

B. Riley upgraded shares of Extreme Networks (NASDAQ:EXTR) from a neutral rating to a buy rating in a report released on Monday morning, MarketBeat.com reports. They currently have $14.00 target price on the technology company’s stock.

EXTR has been the subject of several other reports. Rosenblatt Securities cut Extreme Networks from a buy rating to a neutral rating and dropped their price objective for the company from $19.00 to $15.00 in a report on Thursday, February 1st. TheStreet lowered Extreme Networks from a b- rating to a c+ rating in a research note on Tuesday, February 20th. Needham & Company LLC decreased their price target on Extreme Networks from $23.00 to $16.50 and set a buy rating on the stock in a research note on Thursday, February 1st. UBS Group lowered Extreme Networks from a buy rating to a neutral rating and decreased their price target for the company from $22.00 to $14.00 in a research note on Thursday, February 1st. Finally, StockNews.com lowered Extreme Networks from a buy rating to a hold rating in a research note on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $22.36.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $11.13 on Monday. The stock has a market capitalization of $1.43 billion, a PE ratio of 18.55, a P/E/G ratio of 3.81 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74. The business has a fifty day moving average price of $11.81 and a two-hundred day moving average price of $15.92. Extreme Networks has a fifty-two week low of $10.57 and a fifty-two week high of $32.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.05). The company had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. As a group, equities analysts predict that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $13.24, for a total value of $376,585.32. Following the sale, the chief executive officer now owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

A number of institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its stake in shares of Extreme Networks by 49.8% in the 4th quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company’s stock valued at $33,000 after purchasing an additional 592 shares during the period. Allworth Financial LP lifted its stake in shares of Extreme Networks by 4,924.4% in the 4th quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after purchasing an additional 2,019 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Extreme Networks in the 3rd quarter valued at about $37,000. Tucker Asset Management LLC acquired a new position in shares of Extreme Networks in the 3rd quarter valued at about $41,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Extreme Networks by 101.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,876 shares of the technology company’s stock valued at $45,000 after purchasing an additional 947 shares during the period. Institutional investors own 91.05% of the company’s stock.

About Extreme Networks

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.