Extreme Networks (EXTR) Upgraded to “Sell” at ValuEngine

Extreme Networks (NASDAQ:EXTR) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Friday.

A number of other research analysts have also commented on EXTR. BidaskClub lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Tuesday, July 3rd. Needham & Company LLC lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Cowen lowered shares of Extreme Networks from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $16.00 to $6.50 in a research note on Thursday, August 9th. Finally, JMP Securities lowered their price objective on shares of Extreme Networks from $12.00 to $9.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Extreme Networks has an average rating of “Hold” and an average price target of $11.75.

Shares of NASDAQ EXTR traded down $0.20 during mid-day trading on Friday, reaching $4.97. 1,709,300 shares of the company traded hands, compared to its average volume of 2,232,394. Extreme Networks has a fifty-two week low of $4.81 and a fifty-two week high of $15.55. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.19 and a quick ratio of 1.01. The firm has a market capitalization of $655.49 million, a PE ratio of 11.30, a P/E/G ratio of 1.10 and a beta of 1.01.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. Extreme Networks had a negative net margin of 4.76% and a positive return on equity of 43.70%. The business had revenue of $278.30 million for the quarter, compared to analyst estimates of $279.22 million. During the same quarter last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 55.6% on a year-over-year basis. Sell-side analysts anticipate that Extreme Networks will post 0.36 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Extreme Networks by 5.7% in the second quarter. BlackRock Inc. now owns 15,963,564 shares of the technology company’s stock worth $127,071,000 after buying an additional 855,965 shares during the last quarter. United Services Automobile Association grew its position in Extreme Networks by 31.9% in the second quarter. United Services Automobile Association now owns 782,785 shares of the technology company’s stock worth $6,231,000 after buying an additional 189,463 shares during the last quarter. BlueMountain Capital Management LLC grew its position in Extreme Networks by 8,273.7% in the second quarter. BlueMountain Capital Management LLC now owns 50,996 shares of the technology company’s stock worth $406,000 after buying an additional 50,387 shares during the last quarter. Principal Financial Group Inc. grew its position in Extreme Networks by 1,163.6% in the first quarter. Principal Financial Group Inc. now owns 967,304 shares of the technology company’s stock worth $10,708,000 after buying an additional 890,753 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new position in Extreme Networks in the second quarter worth approximately $141,000. Hedge funds and other institutional investors own 80.37% of the company’s stock.

Extreme Networks Company Profile

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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