Extreme Networks (NASDAQ:EXTR) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Extreme Networks (NASDAQ:EXTR) had its target price hoisted by analysts at Lake Street Capital from $15.00 to $16.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Lake Street Capital’s price objective indicates a potential upside of 2.56% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. 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 report on Thursday, October 31st. Rosenblatt Securities upped their price target on shares of Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Extreme Networks in a research note on Thursday. Finally, B. Riley boosted their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and an average target price of $19.25.

Extreme Networks Stock Down 1.1 %

Extreme Networks stock traded down $0.17 during midday trading on Thursday, reaching $15.60. The company’s stock had a trading volume of 1,983,842 shares, compared to its average volume of 979,650. 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 stock has a market capitalization of $2.06 billion, a P/E ratio of -16.08, a PEG ratio of 3.76 and a beta of 1.75. The stock’s 50-day simple moving average is $17.19 and its 200-day simple moving average is $15.59. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $19.24.

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

Insider Activity at Extreme Networks

In related news, 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 value of $80,300.00. Following the transaction, the director now owns 371,793 shares of the company’s stock, valued at $5,970,995.58. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction 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 owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,725 shares of company stock valued at $698,246. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Extreme Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue raised its holdings in 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. Pacer Advisors Inc. lifted its holdings in Extreme Networks by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after acquiring an additional 741 shares during the period. Andina Capital Management LLC grew its stake in shares of Extreme Networks by 4.1% during the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock worth $307,000 after purchasing an additional 795 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Extreme Networks by 1.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company’s stock valued at $1,070,000 after purchasing an additional 900 shares during the period. Finally, GAMMA Investing LLC grew its position in Extreme Networks by 109.5% during 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 during the period. 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.