Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Extreme Networks, Inc. (NASDAQ:EXTR) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.00.

A number of research firms recently weighed in on EXTR. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. B. Riley upped their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Craig Hallum raised their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a research note on Wednesday, November 6th.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the transaction, the director now directly owns 366,793 shares of the company’s stock, valued at approximately $6,125,443.10. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,725 shares of company stock worth $863,546. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP lifted its holdings in shares of Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after acquiring an additional 1,804,744 shares during the period. State Street Corp lifted its stake in Extreme Networks by 1.0% during the third quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock worth $77,164,000 after purchasing an additional 49,905 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after purchasing an additional 3,399,288 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Extreme Networks in the 2nd quarter valued at $25,409,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Extreme Networks by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock valued at $17,429,000 after purchasing an additional 8,169 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $17.09 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The business’s 50 day moving average price is $16.77 and its two-hundred day moving average price is $15.14. The company has a market cap of $2.26 billion, a PE ratio of -17.62, a price-to-earnings-growth ratio of 3.87 and a beta of 1.75. Extreme Networks has a twelve month low of $10.49 and a twelve month high of $19.24.

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.