Extreme Networks, Inc. (NASDAQ:EXTR) Receives $20.30 Average Price Target from Analysts

Extreme Networks, Inc. (NASDAQ:EXTR) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.30.

Several research analysts have recently issued reports on the company. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and issued a $22.00 price target on shares of Extreme Networks in a report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. Finally, Lake Street Capital boosted their target price on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, January 30th.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.39, for a total transaction of $549,807.75. Following the completion of the sale, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in Extreme Networks in the 3rd quarter valued at approximately $26,000. Byrne Asset Management LLC bought a new stake in shares of Extreme Networks in the 4th quarter worth approximately $30,000. Sterling Capital Management LLC lifted its position in shares of Extreme Networks by 603.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,665 shares during the period. Orion Capital Management LLC bought a new stake in shares of Extreme Networks in the 4th quarter worth approximately $33,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Extreme Networks by 385.1% in the 4th 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 period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Down 0.7 %

Shares of NASDAQ:EXTR opened at $14.89 on Wednesday. The firm’s 50-day moving average is $15.69 and its two-hundred day moving average is $15.85. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. Extreme Networks has a 1 year low of $10.50 and a 1 year high of $19.24. The firm has a market capitalization of $1.98 billion, a PE ratio of -15.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR) last announced 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 11.98% and a negative return on equity of 110.86%. Analysts predict that Extreme Networks will post 0.31 EPS for the current year.

Extreme Networks announced that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.