Extreme Networks (NASDAQ:EXTR) Shares Gap Up – What’s Next?

Extreme Networks, Inc. (NASDAQ:EXTR)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $16.25, but opened at $17.41. Extreme Networks shares last traded at $15.91, with a volume of 409,015 shares changing hands.

Analysts Set New Price Targets

EXTR has been the subject of several recent analyst reports. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th. Craig Hallum raised their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, B. Riley boosted their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Stock Down 1.5 %

The stock has a market capitalization of $2.11 billion, a PE ratio of -16.55, a price-to-earnings-growth ratio of 3.76 and a beta of 1.75. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The business’s fifty day moving average price is $17.18 and its two-hundred day moving average price is $15.59.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. On average, equities research analysts forecast that Extreme Networks, Inc. will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,667,734.88. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total transaction of $80,300.00. Following the sale, the director now directly owns 371,793 shares in the company, valued at $5,970,995.58. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,725 shares of company stock valued at $698,246. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Extreme Networks

Several institutional investors and hedge funds have recently modified their holdings of EXTR. Byrne Asset Management LLC acquired a new position in Extreme Networks during the fourth quarter worth $30,000. State of Alaska Department of Revenue increased its stake in shares of Extreme Networks by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock worth $1,257,000 after purchasing an additional 717 shares in the last quarter. Meritage Portfolio Management raised its position in shares of Extreme Networks by 7.4% during the 4th quarter. Meritage Portfolio Management now owns 63,539 shares of the technology company’s stock worth $1,064,000 after purchasing an additional 4,376 shares during the last quarter. Calamos Advisors LLC lifted its stake in Extreme Networks by 88.1% in the 4th quarter. Calamos Advisors LLC now owns 123,997 shares of the technology company’s stock valued at $2,076,000 after buying an additional 58,085 shares in the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in Extreme Networks in the 4th quarter worth about $1,071,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.