Zacks Investment Research upgraded shares of Extreme Networks, Inc. (NASDAQ:EXTR) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $13.00 target price on the technology company’s stock.
According to Zacks, “Extreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs. “
EXTR has been the subject of several other research reports. ValuEngine upgraded Extreme Networks from a hold rating to a buy rating in a research report on Friday, September 1st. Needham & Company LLC increased their target price on Extreme Networks from $12.50 to $13.00 and gave the stock a buy rating in a research report on Tuesday, August 15th. Craig Hallum reiterated a buy rating and set a $17.00 target price (up previously from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Finally, BidaskClub upgraded Extreme Networks from a sell rating to a hold rating in a research report on Wednesday, August 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Extreme Networks currently has a consensus rating of Buy and an average price target of $13.25.
Extreme Networks (NASDAQ:EXTR) opened at $11.56 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.31 and a quick ratio of 1.09. Extreme Networks has a 12 month low of $4.17 and a 12 month high of $13.20. The company has a market capitalization of $1,274.84, a PE ratio of 26.14, a PEG ratio of 1.19 and a beta of 1.13.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Extreme Networks had a return on equity of 46.58% and a net margin of 0.34%. The firm had revenue of $211.72 million for the quarter, compared to the consensus estimate of $203.86 million. During the same quarter last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 72.5% compared to the same quarter last year. research analysts expect that Extreme Networks will post 0.56 EPS for the current fiscal year.
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In other Extreme Networks news, insider Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 471,653 shares in the company, valued at approximately $4,961,789.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen M. Holmgren purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were purchased at an average price of $11.49 per share, with a total value of $57,450.00. Following the acquisition, the director now directly owns 36,662 shares in the company, valued at $421,246.38. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its holdings in shares of Extreme Networks by 3.5% in the 3rd quarter. Royce & Associates LP now owns 934,597 shares of the technology company’s stock worth $11,112,000 after purchasing an additional 32,000 shares during the period. Nicholas Investment Partners LP boosted its holdings in shares of Extreme Networks by 22.9% in the 3rd quarter. Nicholas Investment Partners LP now owns 582,267 shares of the technology company’s stock worth $6,923,000 after purchasing an additional 108,389 shares during the period. OxFORD Asset Management LLP purchased a new position in shares of Extreme Networks in the 3rd quarter worth approximately $723,000. Brown Advisory Inc. purchased a new position in shares of Extreme Networks in the 3rd quarter worth approximately $349,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Extreme Networks by 0.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 775,569 shares of the technology company’s stock worth $9,222,000 after purchasing an additional 6,626 shares during the period. Institutional investors and hedge funds own 77.65% 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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