Extreme Networks Coverage Initiated at Needham & Company (EXTR)
Investment analysts at Needham & Company began coverage on shares of Extreme Networks (NASDAQ:EXTR) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $9.00 price target on the stock. Needham & Company’s target price indicates a potential upside of 42.41% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on EXTR. Analysts at Wedbush raised their price target on shares of Extreme Networks from $6.00 to $7.00 in a research note to investors on Tuesday, November 5th. They now have an “outperform” rating on the stock. Separately, analysts at DA Davidson initiated coverage on shares of Extreme Networks in a research note to investors on Tuesday, October 15th. They set a “buy” rating and a $7.50 price target on the stock.
Extreme Networks (NASDAQ:EXTR) opened at 6.32 on Tuesday. Extreme Networks has a 52-week low of $2.99 and a 52-week high of $6.65. The stock has a 50-day moving average of $5.80 and a 200-day moving average of $4.37. The company’s market cap is $597.1 million.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.02. The company had revenue of $75.90 million for the quarter, compared to the consensus estimate of $74.17 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that Extreme Networks will post $0.42 earnings per share for the current fiscal year.
In other Extreme Networks news, Director Maury Austin purchased 15,000 shares of the stock on the open market in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average cost of $6.39 per share, with a total value of $95,850.00. Following the transaction, the director now directly owns 75,044 shares in the company, valued at approximately $479,531. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Extreme Networks, Inc is a United States-based company that provides local area network (NASDAQ:EXTR) switching solutions.
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