Extreme Networks, Inc. (NASDAQ:EXTR) Receives Consensus Rating of “Hold” from Analysts

Shares of Extreme Networks, Inc. (NASDAQ:EXTRGet Free Report) have been given a consensus recommendation of “Hold” by the seven research firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $22.36.

A number of equities research analysts have recently issued reports on EXTR shares. TheStreet cut shares of Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. UBS Group downgraded shares of Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $14.00 in a research note on Thursday, February 1st. Needham & Company LLC reduced their price target on Extreme Networks from $23.00 to $16.50 and set a “buy” rating on the stock in a report on Thursday, February 1st. Rosenblatt Securities cut Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $15.00 in a report on Thursday, February 1st. Finally, StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st.

Check Out Our Latest Stock Report on Extreme Networks

Extreme Networks Price Performance

EXTR stock opened at $11.19 on Wednesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74. Extreme Networks has a one year low of $11.11 and a one year high of $32.73. The stock has a market cap of $1.44 billion, a PE ratio of 18.65, a P/E/G ratio of 4.11 and a beta of 1.90. The firm has a 50 day simple moving average of $12.53 and a two-hundred day simple moving average of $16.75.

Extreme Networks (NASDAQ:EXTRGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. The business had revenue of $296.38 million during the quarter, compared to analysts’ expectations of $295.50 million. On average, analysts predict that Extreme Networks will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total value of $376,585.32. Following the sale, the chief executive officer now directly owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Extreme Networks

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Extreme Networks by 23.4% in the 1st quarter. JPMorgan Chase & Co. now owns 879,703 shares of the technology company’s stock worth $10,742,000 after buying an additional 166,540 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Extreme Networks by 55.3% during the 1st quarter. MetLife Investment Management LLC now owns 66,855 shares of the technology company’s stock valued at $816,000 after acquiring an additional 23,810 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Extreme Networks by 5.2% during the 1st quarter. Rhumbline Advisers now owns 318,117 shares of the technology company’s stock valued at $3,884,000 after acquiring an additional 15,816 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Extreme Networks by 13.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,394 shares of the technology company’s stock valued at $1,360,000 after acquiring an additional 13,231 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Extreme Networks by 1.6% during the 1st quarter. BlackRock Inc. now owns 17,359,864 shares of the technology company’s stock valued at $211,964,000 after acquiring an additional 281,710 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

About Extreme Networks

(Get Free Report

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.

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Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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