Extreme Networks (NASDAQ:EXTR) Shares Gap Down to $11.20

Extreme Networks, Inc. (NASDAQ:EXTR) gapped down before the market opened on Wednesday . The stock had previously closed at $11.20, but opened at $10.79. Extreme Networks shares last traded at $11.17, with a volume of 616,748 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EXTR shares. Needham & Company LLC restated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research note on Wednesday. TheStreet downgraded shares of Extreme Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. Craig Hallum cut their target price on shares of Extreme Networks from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday. StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, UBS Group lowered Extreme Networks from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Extreme Networks has a consensus rating of “Hold” and a consensus target price of $20.50.

Extreme Networks Stock Performance

The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.74. The firm has a 50-day moving average of $11.55 and a 200 day moving average of $14.88.

Extreme Networks (NASDAQ:EXTR) last posted 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 positive return on equity of 37.36% and a negative net margin of 0.52%. As a group, research analysts expect that Extreme Networks, Inc. will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds have recently modified their holdings of EXTR. BNP Paribas Financial Markets boosted its stake in Extreme Networks by 101.8% during the first quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock valued at $5,051,000 after buying an additional 220,763 shares in the last quarter. SpiderRock Advisors LLC acquired a new position in shares of Extreme Networks in the 1st quarter worth approximately $204,000. Principal Financial Group Inc. raised its holdings in shares of Extreme Networks by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 782,241 shares of the technology company’s stock worth $9,027,000 after purchasing an additional 54,809 shares in the last quarter. Horrell Capital Management Inc. acquired a new stake in Extreme Networks during the first quarter valued at approximately $3,808,000. Finally, Wesbanco Bank Inc. bought a new stake in Extreme Networks during the first quarter worth approximately $594,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.