Extreme Networks (NASDAQ:EXTR) Price Target Raised to $21.00

Extreme Networks (NASDAQ:EXTR) had its target price upped by research analysts at B. Riley from $18.00 to $21.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. B. Riley’s target price would indicate a potential upside of 40.66% from the company’s previous close.

Several other brokerages have also commented on EXTR. Needham & Company LLC restated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum raised their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday. Finally, Rosenblatt Securities raised their target price on shares of Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Stock Down 6.2 %

EXTR traded down $0.99 on Thursday, hitting $14.93. The company had a trading volume of 1,173,928 shares, compared to its average volume of 1,867,685. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.90 and a quick ratio of 0.63. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $20.83. The stock has a fifty day simple moving average of $14.88 and a 200-day simple moving average of $13.28. The firm has a market capitalization of $1.94 billion, a P/E ratio of -212.57, a P/E/G ratio of 3.37 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The company had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. During the same quarter last year, the business earned $0.24 earnings per share. The business’s quarterly revenue was down 29.5% on a year-over-year basis. As a group, equities analysts expect that Extreme Networks will post 0.25 EPS for the current fiscal year.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of Extreme Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Andina Capital Management LLC raised its position in Extreme Networks by 3.8% in the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock worth $264,000 after purchasing an additional 719 shares during the period. GAMMA Investing LLC grew its stake in Extreme Networks by 109.5% in the 3rd 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. Louisiana State Employees Retirement System grew its stake in Extreme Networks by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock worth $880,000 after acquiring an additional 1,600 shares in the last quarter. ProShare Advisors LLC grew its stake in Extreme Networks by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock worth $294,000 after acquiring an additional 1,741 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Extreme Networks by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock worth $867,000 after acquiring an additional 1,749 shares in the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

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.