Extreme Networks, Inc. (EXTR) Price Target Raised to $13.00 at Needham & Company LLC
Extreme Networks, Inc. (NASDAQ:EXTR) had its price target increased by investment analysts at Needham & Company LLC from $12.50 to $13.00 in a report released on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 25.12% from the stock’s current price.
Several other research analysts have also weighed in on the company. BidaskClub lowered Extreme Networks from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Extreme Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Extreme Networks presently has an average rating of “Hold” and a consensus target price of $8.20.
Extreme Networks (NASDAQ EXTR) traded up 11.48% on Tuesday, reaching $10.39. The company’s stock had a trading volume of 7,689,681 shares. Extreme Networks has a 52-week low of $3.75 and a 52-week high of $11.03. The stock’s market cap is $1.14 billion. The firm’s 50-day moving average price is $9.27 and its 200-day moving average price is $8.07.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Monday, August 14th. The technology company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Extreme Networks had a positive return on equity of 33.40% and a negative net margin of 4.12%. The business had revenue of $178.70 million during the quarter, compared to the consensus estimate of $171.96 million. During the same period last year, the business posted $0.10 earnings per share. The business’s revenue was up 28.0% on a year-over-year basis. On average, equities analysts expect that Extreme Networks will post $0.43 earnings per share for the current year.
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In other news, insider Edward Meyercord sold 65,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $10.10, for a total value of $656,500.00. Following the completion of the sale, the insider now directly owns 563,034 shares in the company, valued at approximately $5,686,643.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.91% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new stake in shares of Extreme Networks during the second quarter valued at approximately $101,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Extreme Networks during the second quarter valued at approximately $116,000. Ameritas Investment Partners Inc. increased its stake in shares of Extreme Networks by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock valued at $124,000 after buying an additional 1,565 shares in the last quarter. Amalgamated Bank increased its stake in shares of Extreme Networks by 10.9% in the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock valued at $130,000 after buying an additional 1,378 shares in the last quarter. Finally, FNY Partners Fund LP purchased a new stake in shares of Extreme Networks during the first quarter valued at approximately $112,000. Institutional investors own 80.44% of the company’s stock.
Extreme Networks Company Profile
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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