Extreme Networks (NASDAQ:EXTR) Rating Increased to Buy at StockNews.com

Extreme Networks (NASDAQ:EXTR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Other equities analysts have also issued reports about the stock. Rosenblatt Securities boosted their price target on shares of Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. B. Riley increased their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. Craig Hallum lifted their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and set a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Price Performance

EXTR traded up $0.16 during midday trading on Friday, reaching $15.09. 1,441,871 shares of the company’s stock were exchanged, compared to its average volume of 1,870,505. Extreme Networks has a one year low of $10.49 and a one year high of $18.77. The firm 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 business has a 50-day simple moving average of $14.88 and a two-hundred day simple moving average of $13.29. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The company had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The business’s revenue was down 29.5% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. As a group, research analysts predict that Extreme Networks will post 0.25 EPS for the current year.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,175 shares of company stock worth $1,763,279. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXTR. Acadian Asset Management LLC acquired a new position in shares of Extreme Networks in the 1st quarter valued at $27,000. GAMMA Investing LLC increased its holdings in shares of Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Extreme Networks by 1,635.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,709 shares during the period. Gladius Capital Management LP bought a new position in shares of Extreme Networks during the 2nd quarter valued at about $90,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Extreme Networks in the 2nd quarter valued at approximately $148,000. Institutional investors own 91.05% of the company’s stock.

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.