Extreme Networks (NASDAQ:EXTR) Upgraded at B. Riley

B. Riley upgraded shares of Extreme Networks (NASDAQ:EXTR) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage currently has $14.00 target price on the technology company’s stock.

Other analysts have also recently issued reports about the company. Needham & Company LLC reduced their price target on Extreme Networks from $23.00 to $16.50 and set a buy rating on the stock in a report on Thursday, February 1st. Rosenblatt Securities downgraded shares of Extreme Networks from a buy rating to a neutral rating and dropped their price target for the company from $19.00 to $15.00 in a research note on Thursday, February 1st. UBS Group cut shares of Extreme Networks from a buy rating to a neutral rating and reduced their price objective for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. StockNews.com downgraded Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. Finally, TheStreet downgraded Extreme Networks from a b- rating to a c+ rating in a report on Tuesday, February 20th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $22.36.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $11.13 on Monday. The firm has a market capitalization of $1.43 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 3.97 and a beta of 1.90. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. The firm’s 50 day moving average is $11.79 and its 200 day moving average is $15.83. Extreme Networks has a 1 year low of $10.57 and a 1 year high of $32.73.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. The company had revenue of $296.38 million for the quarter, compared to the consensus estimate of $295.50 million. Equities research analysts forecast that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $13.24, for a total transaction of $376,585.32. Following the sale, the chief executive officer now owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Asset Management One Co. Ltd. acquired a new position in shares of Extreme Networks during the third quarter valued at about $37,000. Tucker Asset Management LLC acquired a new position in Extreme Networks during the 3rd quarter worth approximately $41,000. Meeder Asset Management Inc. grew its stake in Extreme Networks by 49.8% in the fourth quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company’s stock valued at $33,000 after acquiring an additional 592 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Extreme Networks by 101.9% during the third quarter. Advisors Asset Management Inc. now owns 1,876 shares of the technology company’s stock valued at $45,000 after acquiring an additional 947 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Extreme Networks by 4,924.4% during the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock worth $36,000 after purchasing an additional 2,019 shares during the period. 91.05% of the stock is 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.