Q2 2019 Earnings Forecast for Extreme Networks, Inc. Issued By DA Davidson (EXTR)
Extreme Networks, Inc. (NASDAQ:EXTR) – Equities researchers at DA Davidson issued their Q2 2019 earnings per share (EPS) estimates for shares of Extreme Networks in a note issued to investors on Tuesday. DA Davidson analyst M. Kelleher expects that the technology company will earn $0.15 per share for the quarter. DA Davidson also issued estimates for Extreme Networks’ Q4 2019 earnings at $0.24 EPS.
EXTR has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $12.50 price objective (up previously from $9.50) on shares of Extreme Networks in a report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $8.20.
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Extreme Networks (NASDAQ EXTR) traded up 1.34% on Thursday, reaching $10.59. 2,112,287 shares of the company traded hands. The stock’s 50 day moving average price is $9.29 and its 200 day moving average price is $8.13. Extreme Networks has a one year low of $3.75 and a one year high of $11.03. The company’s market capitalization is $1.17 billion.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. Extreme Networks had a positive return on equity of 43.34% and a negative net margin of 1.42%. The firm had revenue of $178.70 million for the quarter, compared to analysts’ expectations of $171.96 million. During the same quarter last year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year.
In related news, insider Edward Meyercord sold 65,000 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $10.10, for a total value of $656,500.00. Following the sale, the insider now owns 563,034 shares in the company, valued at $5,686,643.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.91% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. AXA raised its position in Extreme Networks by 127.3% in the first quarter. AXA now owns 95,900 shares of the technology company’s stock valued at $720,000 after buying an additional 53,700 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Extreme Networks by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 4,095,453 shares of the technology company’s stock worth $30,757,000 after buying an additional 466,851 shares in the last quarter. Morgan Stanley raised its stake in shares of Extreme Networks by 49.2% in the first quarter. Morgan Stanley now owns 1,145,086 shares of the technology company’s stock worth $8,600,000 after buying an additional 377,822 shares in the last quarter. American International Group Inc. raised its stake in shares of Extreme Networks by 7.1% in the first quarter. American International Group Inc. now owns 63,648 shares of the technology company’s stock worth $478,000 after buying an additional 4,207 shares in the last quarter. Finally, James Investment Research Inc. bought a new stake in shares of Extreme Networks during the first quarter worth about $3,169,000. 80.44% of the stock is owned by institutional investors.
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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