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

Extreme Networks, Inc. (NASDAQ:EXTR) has been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $18.92.

Several research analysts have commented on the company. Rosenblatt Securities lifted their price target on Extreme Networks from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. UBS Group dropped their price target on Extreme Networks from $16.50 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Extreme Networks in a research report on Thursday, May 15th. Lake Street Capital dropped their price target on Extreme Networks from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd.

Extreme Networks Stock Up 1.0%

Shares of EXTR stock opened at $17.97 on Friday. The stock’s 50 day simple moving average is $15.36 and its 200 day simple moving average is $15.41. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.70 and a current ratio of 0.93. Extreme Networks has a twelve month low of $10.10 and a twelve month high of $19.24. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -43.83, a PEG ratio of 3.27 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $284.51 million for the quarter, compared to the consensus estimate of $280.32 million. Extreme Networks had a positive return on equity of 13.79% and a negative net margin of 4.94%. The company’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) EPS. As a group, research analysts predict that Extreme Networks will post 0.31 EPS for the current year.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the sale, the chief executive officer now directly owns 1,510,719 shares in the company, valued at approximately $20,742,171.87. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Raj Khanna sold 2,027 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $17.43, for a total value of $35,330.61. Following the sale, the director now owns 231,708 shares in the company, valued at approximately $4,038,670.44. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,725 shares of company stock worth $662,970. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Extreme Networks

A number of institutional investors and hedge funds have recently modified their holdings of EXTR. Sterling Capital Management LLC increased its position in shares of Extreme Networks by 603.3% during 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 bought a new stake in shares of Extreme Networks during the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC boosted its stake in Extreme Networks by 385.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock valued at $37,000 after buying an additional 1,733 shares in the last quarter. Quarry LP boosted its stake in Extreme Networks by 42.1% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company’s stock valued at $41,000 after buying an additional 719 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Extreme Networks by 105.6% in the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company’s stock valued at $42,000 after buying an additional 1,628 shares in the last quarter. 91.05% of the stock is currently owned by 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.