Extreme Networks, Inc. (NASDAQ:EXTR) Given Consensus Rating of “Hold” by Analysts

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been assigned an average recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.36.

A number of analysts recently weighed in on EXTR shares. UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. Needham & Company LLC lowered their target price on Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a research note on Thursday, February 1st. TheStreet downgraded Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities downgraded shares of Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $15.00 in a research report on Thursday, February 1st.

Extreme Networks Stock Up 2.4 %

Shares of NASDAQ:EXTR opened at $11.60 on Friday. Extreme Networks has a 1 year low of $10.57 and a 1 year high of $32.73. The stock has a 50-day simple moving average of $11.60 and a 200-day simple moving average of $15.17. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. The stock has a market capitalization of $1.49 billion, a P/E ratio of 19.33, a PEG ratio of 4.04 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. The business had revenue of $296.38 million for the quarter, compared to analysts’ expectations of $295.50 million. Equities analysts forecast that Extreme Networks will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Extreme Networks by 17.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after purchasing an additional 1,877,727 shares in the last quarter. Raymond James & Associates raised its stake in Extreme Networks by 4.1% during the fourth quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock valued at $9,526,000 after buying an additional 21,203 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Extreme Networks by 167,176.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after acquiring an additional 3,407,064 shares in the last quarter. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Extreme Networks in the 4th quarter worth approximately $1,613,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Extreme Networks in the 3rd quarter valued at approximately $31,284,000. 91.05% of the stock is currently owned by institutional investors.

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.