Rosenblatt Securities Increases Extreme Networks (NASDAQ:EXTR) Price Target to $21.00

Extreme Networks (NASDAQ:EXTR) had its price target increased by Rosenblatt Securities from $17.00 to $21.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Craig Hallum lifted their price target on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Stock Up 0.1 %

NASDAQ:EXTR traded up $0.02 on Thursday, hitting $14.95. 322,663 shares of the company’s stock traded hands, compared to its average volume of 1,865,225. Extreme Networks has a 1 year low of $10.49 and a 1 year high of $18.77. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The company has a market cap of $1.97 billion, a PE ratio of -15.39, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76. The firm has a 50-day moving average price of $14.88 and a 200-day moving average price of $13.29.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The firm had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. Equities analysts anticipate that Extreme Networks will post 0.25 EPS for the current fiscal year.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total value of $536,589.50. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Extreme Networks

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of Extreme Networks during the first quarter worth about $27,000. GAMMA Investing LLC increased its holdings in shares of Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 buying an additional 4,709 shares in the last quarter. Gladius Capital Management LP bought a new stake in Extreme Networks in the 2nd quarter worth about $90,000. Finally, Hennessy Advisors Inc. bought a new stake in Extreme Networks during the second quarter worth $148,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.