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

Extreme Networks, Inc. (NASDAQ:EXTR) has earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $20.30.

Several equities analysts recently issued reports on EXTR shares. B. Riley lifted their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price objective on shares of Extreme Networks in a report on Friday, February 7th. Craig Hallum lifted their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th.

Extreme Networks Stock Down 4.0 %

EXTR opened at $15.22 on Friday. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The business has a 50 day simple moving average of $16.70 and a 200-day simple moving average of $15.82. The stock has a market capitalization of $2.02 billion, a P/E ratio of -16.19, a P/E/G ratio of 3.10 and a beta of 1.73. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $19.24.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. On average, equities analysts anticipate that Extreme Networks will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared that its board has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the sale, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction on 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 sale, the director now directly owns 366,793 shares of the company’s stock, valued at approximately $6,125,443.10. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in EXTR. Quarry LP purchased a new stake in shares of Extreme Networks in the third quarter valued at $26,000. Byrne Asset Management LLC purchased a new stake in shares of Extreme Networks in the fourth quarter valued at $30,000. Sterling Capital Management LLC grew its position in shares of Extreme Networks by 603.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,665 shares during the period. Orion Capital Management LLC purchased a new stake in Extreme Networks during the fourth quarter valued at about $33,000. Finally, Smartleaf Asset Management LLC increased its stake in Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock worth $37,000 after acquiring an additional 1,733 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.