Extreme Networks, Inc (EXTR) Given Consensus Rating of “Buy” by Brokerages
Extreme Networks, Inc (NASDAQ:EXTR) has been given a consensus recommendation of “Buy” by the six ratings firms that are covering the company. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.50.
EXTR has been the subject of several recent research reports. DA Davidson upped their price target on Extreme Networks from $7.50 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 30th. Needham & Company LLC upped their price target on Extreme Networks from $7.00 to $9.50 and gave the stock a “buy” rating in a report on Thursday, March 30th. Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a report on Thursday, March 16th. Finally, TheStreet upgraded Extreme Networks from a “d” rating to a “c-” rating in a report on Wednesday, February 1st.
Extreme Networks (NASDAQ:EXTR) traded up 0.42% during midday trading on Friday, hitting $9.56. The stock had a trading volume of 1,432,753 shares. The stock’s market capitalization is $1.05 billion. Extreme Networks has a 1-year low of $3.07 and a 1-year high of $9.60. The stock’s 50-day moving average is $8.27 and its 200-day moving average is $6.25.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $148.70 million during the quarter, compared to the consensus estimate of $155.89 million. Extreme Networks had a positive return on equity of 22.92% and a negative net margin of 5.27%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, equities research analysts anticipate that Extreme Networks will post $0.44 EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the company. RK Capital Management LLC increased its stake in shares of Extreme Networks by 164.7% in the first quarter. RK Capital Management LLC now owns 3,608,869 shares of the technology company’s stock valued at $27,103,000 after buying an additional 2,245,634 shares during the period. FMR LLC increased its stake in shares of Extreme Networks by 6,275.4% in the first quarter. FMR LLC now owns 1,349,669 shares of the technology company’s stock valued at $10,136,000 after buying an additional 1,328,499 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in shares of Extreme Networks during the first quarter valued at about $7,374,000. Marshall Wace North America L.P. bought a new stake in shares of Extreme Networks during the first quarter valued at about $7,374,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Extreme Networks during the first quarter valued at about $5,159,000. Institutional investors and hedge funds own 79.23% 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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