Extreme Networks, Inc (NASDAQ:EXTR) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $6.30.
EXTR has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research report on Wednesday, August 12th. Lake Street Capital raised their price target on shares of Extreme Networks from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. B. Riley raised their price target on shares of Extreme Networks from $7.50 to $9.00 in a research report on Thursday, August 6th. Craig Hallum reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Extreme Networks in a report on Sunday, June 7th. Finally, Needham & Company LLC initiated coverage on shares of Extreme Networks in a report on Wednesday, August 5th. They issued a “hold” rating on the stock.
Shares of NASDAQ EXTR traded down $0.19 during midday trading on Friday, reaching $4.06. 1,354,829 shares of the stock were exchanged, compared to its average volume of 1,168,783. Extreme Networks has a twelve month low of $1.43 and a twelve month high of $8.00. The company has a debt-to-equity ratio of 82.41, a quick ratio of 0.88 and a current ratio of 1.04. The stock has a market capitalization of $497.53 million, a P/E ratio of -3.83 and a beta of 1.84. The company has a 50 day simple moving average of $4.59 and a 200 day simple moving average of $4.01.
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Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.06. Extreme Networks had a negative net margin of 13.38% and a negative return on equity of 59.45%. The firm had revenue of $215.50 million for the quarter, compared to the consensus estimate of $212.68 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. On average, research analysts expect that Extreme Networks will post -0.06 earnings per share for the current year.
In related news, CEO Edward Meyercord sold 50,000 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $4.37, for a total value of $218,500.00. Following the sale, the chief executive officer now owns 588,552 shares of the company’s stock, valued at approximately $2,571,972.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.62% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC increased its stake in Extreme Networks by 13.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,626,698 shares of the technology company’s stock valued at $7,060,000 after buying an additional 188,419 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Extreme Networks by 5.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 796,713 shares of the technology company’s stock valued at $3,458,000 after buying an additional 37,765 shares during the period. AQR Capital Management LLC increased its stake in Extreme Networks by 1.7% during the 2nd quarter. AQR Capital Management LLC now owns 488,983 shares of the technology company’s stock valued at $2,122,000 after buying an additional 8,064 shares during the period. Engineers Gate Manager LP increased its stake in Extreme Networks by 119.9% during the 2nd quarter. Engineers Gate Manager LP now owns 288,892 shares of the technology company’s stock valued at $1,254,000 after buying an additional 157,509 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Extreme Networks by 21.6% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 2,348,010 shares of the technology company’s stock valued at $10,190,000 after buying an additional 417,199 shares during the period. 78.20% of the stock is currently owned by hedge funds and other institutional investors.
About Extreme Networks
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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