Extreme Networks (NASDAQ:EXTR) Upgraded by B. Riley to Buy

B. Riley upgraded shares of Extreme Networks (NASDAQ:EXTR) from a neutral rating to a buy rating in a report released on Monday, MarketBeat reports. They currently have $14.00 price target on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. TheStreet lowered shares of Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. Rosenblatt Securities downgraded shares of Extreme Networks from a buy rating to a neutral rating and dropped their target price for the stock from $19.00 to $15.00 in a research report on Thursday, February 1st. Needham & Company LLC decreased their price target on Extreme Networks from $23.00 to $16.50 and set a buy rating for the company in a report on Thursday, February 1st. StockNews.com cut Extreme Networks from a buy rating to a hold rating in a research note on Thursday, February 1st. Finally, UBS Group cut Extreme Networks from a buy rating to a neutral rating and reduced their price objective for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $22.36.

Extreme Networks Stock Performance

Shares of EXTR opened at $11.13 on Monday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. The stock has a market capitalization of $1.43 billion, a P/E ratio of 18.55, a P/E/G ratio of 3.81 and a beta of 1.90. The company’s fifty day moving average is $11.81 and its two-hundred day moving average is $15.92. Extreme Networks has a 1 year low of $10.57 and a 1 year high of $32.73.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). The company had revenue of $296.38 million for the quarter, compared to analysts’ expectations of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. On average, sell-side analysts predict that Extreme Networks will post 0.17 earnings per share for the current year.

Insider Activity

In other news, CEO Edward Meyercord sold 28,443 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total transaction of $376,585.32. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Extreme Networks by 4.2% during the first quarter. BlackRock Inc. now owns 18,666,486 shares of the technology company’s stock worth $356,903,000 after acquiring an additional 751,645 shares during the period. Vanguard Group Inc. grew its holdings in Extreme Networks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,989,988 shares of the technology company’s stock worth $229,143,000 after acquiring an additional 94,881 shares during the period. Capital Research Global Investors grew its holdings in Extreme Networks by 24.0% during the first quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company’s stock worth $134,986,000 after acquiring an additional 2,141,000 shares during the period. Finally, State Street Corp grew its holdings in Extreme Networks by 0.6% during the second quarter. State Street Corp now owns 4,585,885 shares of the technology company’s stock worth $119,462,000 after acquiring an additional 29,304 shares during the period. 91.05% of the stock is owned by institutional investors and hedge funds.

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.