Extreme Networks (NASDAQ:EXTR) Given New $22.50 Price Target at Craig Hallum

Extreme Networks (NASDAQ:EXTR) had its target price boosted by Craig Hallum from $17.00 to $22.50 in a report released on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the company. Rosenblatt Securities lifted their price objective on Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Stock Performance

Shares of NASDAQ:EXTR opened at $15.09 on Thursday. Extreme Networks has a 52 week low of $10.49 and a 52 week 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’s fifty day moving average is $14.88 and its 200 day moving average is $13.34.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results 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). The firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. Extreme Networks’s revenue was down 29.5% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. As a group, equities research analysts predict that Extreme Networks will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the sale, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the transaction, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value 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 approximately $21,754,637.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,175 shares of company stock valued at $1,763,279. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds have recently made changes to their positions in EXTR. Acadian Asset Management LLC purchased a new stake in shares of Extreme Networks in the first quarter worth about $27,000. GAMMA Investing LLC lifted its position 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 buying an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Extreme Networks by 1,635.1% in 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 purchased a new stake in shares of Extreme Networks in the second quarter worth about $90,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Extreme Networks in the second quarter worth about $148,000. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

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.