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

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 …

Extreme Networks logoExtreme 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.

(Ad)

Through Berkshire Hathaway, Warren Buffett recently dumped $800 million of Apple stock…

And bought this instead!

He’s now moved $3.8 BILLION in a tiny niche of the tech sector billionaires are flocking to…

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.

See Also: What strategies should day traders use to execute a trade?

Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

7 Stocks That Don’t Care Who Wins the Election

Many investors confuse volatility in an election year with the market performance during an election year. Historically, investors don’t care all that much who wins the election.

There is historical evidence that the market will rise after a Republican wins and dip after a Democrat wins. But that same evidence suggests that those trends flip in the first year of a presidency. It just proves that there’s a difference between campaigning and governing.

What can be different is where investors choose to make their money. It’s very clear that certain sectors perform better under a Republican administration than a Democrat administration. But that’s not the focus of this presentation.

Rather, we’re taking a look at companies, and stocks, that should profit no matter who occupies 1600 Pennsylvania Avenue. Some of these will be familiar names, but we’re trying not to be too obvious. Amazon (NASDAQ:AMZN) is a buy no matter who wins. You don’t need an article to tell you that.

And while I wouldn’t call this a list of “coronavirus stocks” the list has some resemblance. The fact is every major event in our nation’s history has a ripple effect. And technologies that we never imagined would become “a thing” become the most important thing in our lives.

View the “7 Stocks That Don’t Care Who Wins the Election”.