Extreme Networks Coverage Initiated at Buckingham Research (EXTR)
Analysts at Buckingham Research started coverage on shares of Extreme Networks (NASDAQ:EXTR) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Extreme Networks (NASDAQ:EXTR) opened at 4.16 on Thursday. Extreme Networks has a 52-week low of $3.36 and a 52-week high of $8.14. The stock has a 50-day moving average of $4.22 and a 200-day moving average of $5.81. The company’s market cap is $401.4 million. Extreme Networks also was the recipient of a large increase in short interest in the month of May. As of May 30th, there was short interest totalling 7,264,406 shares, an increase of 20.6% from the May 15th total of 6,022,460 shares. Approximately 7.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,892,688 shares, the days-to-cover ratio is presently 3.8 days.
Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.02. The company had revenue of $141.80 million for the quarter, compared to the consensus estimate of $145.83 million. During the same quarter last year, the company posted $0.04 earnings per share. Extreme Networks’s revenue was up 107.9% compared to the same quarter last year. On average, analysts predict that Extreme Networks will post $0.25 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James reiterated an “outperform” rating on shares of Extreme Networks in a research note on Wednesday, May 7th. They now have a $6.50 price target on the stock, down previously from $8.00. Separately, analysts at Needham & Company LLC reiterated a “buy” rating on shares of Extreme Networks in a research note on Wednesday, May 7th. Finally, analysts at Wunderlich initiated coverage on shares of Extreme Networks in a research note on Tuesday, April 1st. They set a “buy” rating and a $9.00 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $7.50.
Extreme Networks, Inc together with its subsidiaries, is a provider of network infrastructure equipment and services for enterprises, data centers, and service providers.
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