Craig Hallum reissued their buy rating on shares of Extreme Networks, Inc. (NASDAQ:EXTR) in a report published on Wednesday, The Fly reports. The firm currently has a $17.00 price target on the technology company’s stock, up from their prior price target of $12.50.
A number of other analysts also recently weighed in on the company. ValuEngine upgraded Extreme Networks from a hold rating to a buy rating in a report on Friday, September 1st. Zacks Investment Research downgraded Extreme Networks from a strong-buy rating to a hold rating in a report on Tuesday, October 17th. Needham & Company LLC increased their price objective on Extreme Networks from $12.50 to $13.00 and gave the company a buy rating in a report on Tuesday, August 15th. Finally, BidaskClub downgraded Extreme Networks from a hold rating to a sell rating in a report on Monday, July 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Extreme Networks has an average rating of Buy and a consensus price target of $13.25.
Shares of Extreme Networks (NASDAQ EXTR) traded down $0.19 on Wednesday, hitting $11.24. The stock had a trading volume of 1,455,300 shares, compared to its average volume of 1,331,724. Extreme Networks has a one year low of $4.17 and a one year high of $13.20. The company has a market cap of $1,274.84, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.28 and a beta of 1.13. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 0.75.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. Extreme Networks had a return on equity of 51.82% and a net margin of 0.34%. The company had revenue of $211.72 million during the quarter, compared to analysts’ expectations of $203.86 million. During the same period in the prior year, the company earned $0.07 EPS. Extreme Networks’s revenue was up 72.5% compared to the same quarter last year. research analysts anticipate that Extreme Networks will post 0.56 earnings per share for the current fiscal year.
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In other Extreme Networks news, insider Edward Meyercord sold 100,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $10.52, for a total transaction of $1,052,000.00. Following the completion of the sale, the insider now directly owns 471,653 shares in the company, valued at approximately $4,961,789.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen M. Holmgren purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were acquired at an average price of $11.49 per share, with a total value of $57,450.00. Following the completion of the acquisition, the director now owns 36,662 shares in the company, valued at approximately $421,246.38. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in Extreme Networks by 35.0% during the 3rd quarter. Wells Fargo & Company MN now owns 479,037 shares of the technology company’s stock worth $5,696,000 after acquiring an additional 124,178 shares during the period. Trexquant Investment LP grew its holdings in Extreme Networks by 28.5% during the 3rd quarter. Trexquant Investment LP now owns 23,089 shares of the technology company’s stock worth $275,000 after acquiring an additional 5,114 shares during the period. American International Group Inc. grew its holdings in Extreme Networks by 8.1% during the 3rd quarter. American International Group Inc. now owns 73,207 shares of the technology company’s stock worth $870,000 after acquiring an additional 5,473 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in Extreme Networks during the 3rd quarter worth about $4,991,000. Finally, Cipher Capital LP grew its holdings in Extreme Networks by 53.7% during the 3rd quarter. Cipher Capital LP now owns 341,982 shares of the technology company’s stock worth $4,066,000 after acquiring an additional 119,504 shares during the period. Hedge funds and other institutional investors own 80.05% of the company’s stock.
About Extreme Networks
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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