Extreme Networks, Inc. (NASDAQ:EXTR – Get Free Report) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $18.58.
EXTR has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, May 15th. UBS Group reduced their price objective on Extreme Networks from $16.50 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Lake Street Capital reduced their price objective on Extreme Networks from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $18.00 price objective on shares of Extreme Networks in a research note on Thursday, May 1st.
Get Our Latest Stock Analysis on Extreme Networks
Insider Activity at Extreme Networks
Institutional Trading of Extreme Networks
Several large investors have recently bought and sold shares of EXTR. Byrne Asset Management LLC bought a new stake in Extreme Networks during the 4th quarter valued at approximately $30,000. Sterling Capital Management LLC boosted its position in Extreme Networks by 603.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,665 shares in the last quarter. Orion Capital Management LLC bought a new stake in Extreme Networks during the 4th quarter valued at approximately $33,000. Smartleaf Asset Management LLC boosted its position in shares of Extreme Networks by 385.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock worth $37,000 after purchasing an additional 1,733 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Extreme Networks by 42.1% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company’s stock worth $41,000 after purchasing an additional 719 shares in the last quarter. 91.05% of the stock is owned by institutional investors.
Extreme Networks Stock Down 1.1%
EXTR opened at $16.22 on Monday. The stock has a market cap of $2.16 billion, a PE ratio of -17.26, a P/E/G ratio of 3.06 and a beta of 1.67. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. Extreme Networks has a 52 week low of $10.10 and a 52 week high of $19.24. The business’s fifty day simple moving average is $13.75 and its 200 day simple moving average is $15.38.
Extreme Networks (NASDAQ:EXTR – Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. The firm had revenue of $284.51 million for the quarter, compared to analysts’ expectations of $280.32 million. During the same period last year, the firm earned ($0.19) earnings per share. The company’s revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, research analysts expect that Extreme Networks will post 0.31 earnings per share for the current fiscal year.
Extreme Networks declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Extreme Networks Company Profile
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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