Extreme Networks (NASDAQ:EXTR) Raised to “Buy” at StockNews.com

Extreme Networks (NASDAQ:EXTR) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other equities analysts also recently commented on the company. Craig Hallum lifted their target price on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday. B. Riley boosted 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. Rosenblatt Securities upped their price objective on Extreme Networks from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $15.09 on Friday. The business has a 50 day simple moving average of $14.88 and a 200-day simple moving average of $13.34. Extreme Networks has a twelve month low of $10.49 and a twelve month high of $18.77. The company 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 company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 business 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 earned $0.24 EPS. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. As a group, equities research analysts expect that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the company’s 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 directly owns 228,733 shares in the company, valued at $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total value of $536,589.50. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,175 shares of company stock valued at $1,763,279 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Extreme Networks

Several institutional investors have recently modified their holdings of EXTR. BNP Paribas Financial Markets lifted its holdings in Extreme Networks by 101.8% in the 1st quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock valued at $5,051,000 after acquiring an additional 220,763 shares during the last quarter. Brooktree Capital Management boosted its holdings in Extreme Networks by 45.9% during the first quarter. Brooktree Capital Management now owns 221,187 shares of the technology company’s stock worth $2,552,000 after buying an additional 69,625 shares in the last quarter. Gallacher Capital Management LLC boosted its holdings in Extreme Networks by 20.8% during the first quarter. Gallacher Capital Management LLC now owns 17,590 shares of the technology company’s stock worth $203,000 after buying an additional 3,031 shares in the last quarter. Duality Advisers LP increased its holdings in shares of Extreme Networks by 355.3% in the first quarter. Duality Advisers LP now owns 241,397 shares of the technology company’s stock valued at $2,786,000 after buying an additional 188,372 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Extreme Networks by 33.1% during the 1st quarter. SG Americas Securities LLC now owns 44,586 shares of the technology company’s stock valued at $515,000 after acquiring an additional 11,077 shares during the last quarter. Institutional investors and hedge funds 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.