Needham & Company LLC Reaffirms Buy Rating for Extreme Networks (NASDAQ:EXTR)

Needham & Company LLC reiterated their buy rating on shares of Extreme Networks (NASDAQ:EXTRFree Report) in a report published on Monday morning, Benzinga reports. They currently have a $16.50 target price on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. TheStreet cut Extreme Networks from a b- rating to a c+ rating in a report on Tuesday, February 20th. B. Riley boosted their price target on Extreme Networks from $14.00 to $15.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Craig Hallum raised Extreme Networks from a hold rating to a buy rating and boosted their price target for the stock from $13.00 to $14.00 in a report on Thursday, May 16th. Finally, Rosenblatt Securities raised Extreme Networks from a neutral rating to a buy rating and boosted their price target for the stock from $15.00 to $17.00 in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $20.64.

Check Out Our Latest Stock Report on Extreme Networks

Extreme Networks Stock Performance

Shares of EXTR stock opened at $12.05 on Monday. The stock has a fifty day moving average price of $11.23 and a 200 day moving average price of $13.40. The stock has a market cap of $1.57 billion, a PE ratio of -172.14, a P/E/G ratio of 8.72 and a beta of 1.78. Extreme Networks has a 1 year low of $10.49 and a 1 year high of $32.73. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.61 and a current ratio of 0.96.

Extreme Networks (NASDAQ:EXTRGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.06). The firm had revenue of $211.04 million for the quarter, compared to analyst estimates of $207.80 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. Sell-side analysts forecast that Extreme Networks will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Extreme Networks

Several institutional investors have recently added to or reduced their stakes in EXTR. Acadian Asset Management LLC acquired a new position in Extreme Networks in the first quarter valued at $27,000. Allworth Financial LP grew its position in Extreme Networks by 4,924.4% during the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after acquiring an additional 2,019 shares during the period. Tucker Asset Management LLC purchased a new stake in Extreme Networks during the third quarter valued at about $41,000. Hennessy Advisors Inc. purchased a new stake in Extreme Networks during the fourth quarter valued at about $82,000. Finally, Quest Partners LLC purchased a new stake in Extreme Networks during the fourth quarter valued at about $104,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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