Analysts Set Extreme Networks, Inc. (NASDAQ:EXTR) Target Price at $19.00

Extreme Networks, Inc. (NASDAQ:EXTR) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $19.00.

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. Craig Hallum raised their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. B. Riley upped their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the sale, the director now directly owns 366,793 shares in the company, valued at $6,125,443.10. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,725 shares of company stock valued at $863,546. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

Several hedge funds and other institutional investors have recently bought and sold shares of EXTR. Bank of New York Mellon Corp raised its holdings in shares of Extreme Networks by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock worth $14,192,000 after purchasing an additional 3,572 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after acquiring an additional 4,709 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Extreme Networks by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,823 shares of the technology company’s stock worth $415,000 after acquiring an additional 2,487 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Extreme Networks by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 380,641 shares of the technology company’s stock worth $5,120,000 after acquiring an additional 13,700 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Extreme Networks by 373.4% during the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after purchasing an additional 841,395 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Stock Up 2.3 %

EXTR stock opened at $17.49 on Friday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -18.03, a PEG ratio of 3.96 and a beta of 1.76. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $19.24. The firm has a fifty day moving average price of $16.91 and a two-hundred day moving average price of $15.20. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63.

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.