Analysts Set Extreme Networks, Inc. (NASDAQ:EXTR) Target Price at $15.90

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $15.90.

A number of brokerages have recently weighed in on EXTR. Needham & Company LLC reissued a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum boosted their target price on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 8th.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in Extreme Networks by 101.8% in the 1st 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 during the last quarter. Seven Eight Capital LP grew its stake in shares of Extreme Networks by 724.8% in the fourth quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock valued at $3,420,000 after acquiring an additional 170,395 shares in the last quarter. Mirador Capital Partners LP increased its position in Extreme Networks by 68.1% during the first quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock worth $2,850,000 after acquiring an additional 100,075 shares during the period. Harbor Capital Advisors Inc. raised its stake in Extreme Networks by 297.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock worth $1,081,000 after purchasing an additional 60,131 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in Extreme Networks by 11.4% in the 4th quarter. Congress Asset Management Co. MA now owns 1,376,654 shares of the technology company’s stock valued at $24,284,000 after purchasing an additional 141,015 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Trading Up 0.1 %

NASDAQ:EXTR opened at $15.10 on Wednesday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -215.71, a PEG ratio of 3.46 and a beta of 1.77. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $25.51. The business’s 50-day moving average price is $14.40 and its two-hundred day moving average price is $12.71. The company has a current ratio of 0.90, a quick ratio of 0.63 and a debt-to-equity ratio of 7.05.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The firm had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was down 29.5% compared to the same quarter last year. On average, equities analysts expect that Extreme Networks will post 0.25 earnings per share for the current year.

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.