BidaskClub Downgrades Extreme Networks (EXTR) to Hold

BidaskClub cut shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a hold rating in a research note published on Wednesday.

Several other brokerages also recently issued reports on EXTR. Zacks Investment Research downgraded shares of Extreme Networks from a buy rating to a hold rating in a research note on Monday, January 28th. ValuEngine downgraded shares of Extreme Networks from a hold rating to a sell rating in a research note on Friday, December 7th. TheStreet raised shares of Extreme Networks from a d+ rating to a c rating in a research note on Tuesday, January 29th. Finally, DA Davidson set a $13.00 price target on shares of Extreme Networks and gave the company a buy rating in a research note on Monday, January 14th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $9.00.

Shares of NASDAQ EXTR opened at $7.69 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.23 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $897.88 million, a price-to-earnings ratio of 17.48, a PEG ratio of 2.02 and a beta of 1.26. Extreme Networks has a 1 year low of $4.81 and a 1 year high of $13.05.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Tuesday, January 29th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. The business had revenue of $252.70 million during the quarter, compared to the consensus estimate of $244.45 million. Extreme Networks had a negative net margin of 2.04% and a positive return on equity of 36.26%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. On average, sell-side analysts predict that Extreme Networks will post 0.27 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of EXTR. Acadian Asset Management LLC bought a new stake in shares of Extreme Networks during the fourth quarter valued at approximately $25,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Extreme Networks during the fourth quarter valued at approximately $45,000. PNC Financial Services Group Inc. raised its stake in shares of Extreme Networks by 384.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,292 shares of the technology company’s stock valued at $57,000 after acquiring an additional 7,372 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Extreme Networks during the fourth quarter valued at approximately $61,000. Finally, RFG Advisory LLC bought a new stake in shares of Extreme Networks during the fourth quarter valued at approximately $70,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

About Extreme Networks

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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