Extreme Networks (NASDAQ:EXTR) Upgraded to “Buy” at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Extreme Networks (NASDAQ:EXTR) from a neutral rating to a buy rating in a research report report published on Thursday morning, MarketBeat reports. They currently have $17.00 price objective on the technology company’s stock, up from their prior price objective of $15.00.

Several other analysts also recently commented on EXTR. Needham & Company LLC reiterated a buy rating and set a $16.50 target price on shares of Extreme Networks in a research note on Wednesday. TheStreet downgraded shares of Extreme Networks from a b- rating to a c+ rating in a report on Tuesday, February 20th. StockNews.com cut shares of Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. UBS Group cut Extreme Networks from a buy rating to a neutral rating and lowered their price target for the company from $22.00 to $14.00 in a report on Thursday, February 1st. Finally, B. Riley raised Extreme Networks from a neutral rating to a buy rating and set a $14.00 target price on the stock in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $20.50.

Extreme Networks Trading Down 1.9 %

EXTR opened at $11.20 on Thursday. Extreme Networks has a 1 year low of $10.57 and a 1 year high of $32.73. The stock has a 50-day moving average price of $11.52 and a 200-day moving average price of $14.80. The company has a quick ratio of 0.74, a current ratio of 0.96 and a debt-to-equity ratio of 2.78.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). The firm had revenue of $296.38 million during the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. On average, equities research analysts anticipate that Extreme Networks will post 0.17 EPS for the current fiscal year.

Institutional Trading of Extreme Networks

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Extreme Networks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,989,988 shares of the technology company’s stock valued at $229,143,000 after acquiring an additional 94,881 shares during the period. FMR LLC boosted its stake in Extreme Networks by 32.0% in the 3rd quarter. FMR LLC now owns 4,142,648 shares of the technology company’s stock worth $100,294,000 after purchasing an additional 1,004,002 shares during the period. Pacer Advisors Inc. grew its holdings in Extreme Networks by 167,176.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after buying an additional 3,407,064 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Extreme Networks by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,492,869 shares of the technology company’s stock valued at $43,976,000 after buying an additional 194,802 shares during the last quarter. Finally, Voss Capital LLC boosted its position in shares of Extreme Networks by 55.6% during the fourth quarter. Voss Capital LLC now owns 2,170,500 shares of the technology company’s stock worth $38,288,000 after acquiring an additional 775,500 shares during the last quarter. 91.05% of the stock is 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.