Extreme Networks, Inc. (NASDAQ:EXTR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the stock, Marketbeat reports. Three equities 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 objective among analysts that have updated their coverage on the stock in the last year is $15.90.

A number of analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum upped their price target on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 8th.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,754,637.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Several large investors have recently added to or reduced their stakes in EXTR. BNP Paribas Financial Markets boosted its holdings in shares of Extreme Networks by 101.8% during the 1st quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock worth $5,051,000 after buying an additional 220,763 shares in the last quarter. Gallacher Capital Management LLC bought a new stake in Extreme Networks in the fourth quarter valued at $257,000. Seven Eight Capital LP raised its holdings in shares of Extreme Networks by 724.8% during the fourth quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock valued at $3,420,000 after purchasing an additional 170,395 shares during the period. Mirador Capital Partners LP boosted its position in shares of Extreme Networks by 68.1% during the 1st quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock worth $2,850,000 after purchasing an additional 100,075 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Extreme Networks by 297.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock worth $1,081,000 after purchasing an additional 60,131 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $13.70 on Friday. Extreme Networks has a one year low of $10.49 and a one year high of $26.32. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.90 and a quick ratio of 0.63. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -195.71, a PEG ratio of 3.63 and a beta of 1.79. The firm has a 50 day simple moving average of $13.98 and a 200 day simple moving average of $12.43.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The firm’s revenue was down 29.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Research analysts predict that Extreme Networks will post 0.25 earnings per share for the current fiscal year.

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.