Extreme Networks, Inc Forecasted to Post Q3 2018 Earnings of $0.13 Per Share (EXTR)

Extreme Networks, Inc (NASDAQ:EXTR) – Equities researchers at DA Davidson upped their Q3 2018 earnings per share estimates for shares of Extreme Networks in a research report issued on Wednesday. DA Davidson analyst M. Kelleher now forecasts that the technology company will earn $0.13 per share for the quarter, up from their prior estimate of $0.12. DA Davidson currently has a “Buy” rating and a $17.00 target price on the stock. DA Davidson also issued estimates for Extreme Networks’ Q4 2018 earnings at $0.19 EPS, FY2018 earnings at $0.52 EPS, Q1 2019 earnings at $0.15 EPS, Q2 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.24 EPS, Q4 2019 earnings at $0.27 EPS and FY2019 earnings at $0.83 EPS.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $231.12 million for the quarter, compared to analysts’ expectations of $241.49 million. Extreme Networks had a negative net margin of 2.72% and a positive return on equity of 44.41%. The firm’s revenue was up 47.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS.

EXTR has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Extreme Networks in a research report on Friday, November 10th. Zacks Investment Research cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. BidaskClub raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 31st. JMP Securities assumed coverage on shares of Extreme Networks in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Cowen reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Extreme Networks in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Extreme Networks currently has an average rating of “Buy” and a consensus price target of $16.08.

Shares of Extreme Networks (NASDAQ EXTR) opened at $10.53 on Monday. The company has a market cap of $1,190.00, a price-to-earnings ratio of -55.42, a P/E/G ratio of 1.06 and a beta of 1.31. Extreme Networks has a 52-week low of $5.65 and a 52-week high of $15.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.31 and a quick ratio of 1.09.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Extreme Networks by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock worth $74,138,000 after buying an additional 830,103 shares in the last quarter. BlackRock Inc. lifted its position in Extreme Networks by 3.1% during the 4th quarter. BlackRock Inc. now owns 7,530,223 shares of the technology company’s stock worth $94,278,000 after buying an additional 224,820 shares in the last quarter. State Street Corp lifted its position in Extreme Networks by 4.7% during the 2nd quarter. State Street Corp now owns 2,307,153 shares of the technology company’s stock worth $21,273,000 after buying an additional 102,591 shares in the last quarter. FMR LLC lifted its position in Extreme Networks by 57.9% during the 2nd quarter. FMR LLC now owns 2,130,799 shares of the technology company’s stock worth $19,647,000 after buying an additional 781,130 shares in the last quarter. Finally, Copper Rock Capital Partners LLC bought a new stake in Extreme Networks during the 4th quarter worth about $24,503,000. 82.16% of the stock is currently owned by hedge funds and other institutional investors.

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total transaction of $138,100.00. Following the sale, the director now directly owns 99,523 shares of the company’s stock, valued at approximately $1,374,412.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Carinalli sold 20,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $12.91, for a total transaction of $258,200.00. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

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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.

Earnings History and Estimates for Extreme Networks (NASDAQ:EXTR)

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