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

Extreme Networks, Inc. (NASDAQ:EXTR) has been given an average rating of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $15.90.

Several equities research analysts have recently commented on EXTR shares. Craig Hallum lifted their price target on shares of Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in Extreme Networks by 101.8% in the first quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock valued at $5,051,000 after buying an additional 220,763 shares in the last quarter. Mirador Capital Partners LP lifted its stake in Extreme Networks by 68.1% in the first quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock valued at $2,850,000 after buying an additional 100,075 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Extreme Networks by 297.1% in the second quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock valued at $1,081,000 after buying an additional 60,131 shares in the last quarter. M&G Plc bought a new position in Extreme Networks in the first quarter valued at approximately $4,175,000. Finally, Victory Capital Management Inc. lifted its stake in Extreme Networks by 373.4% in the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock valued at $14,348,000 after buying an additional 841,395 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Trading Down 1.8 %

EXTR opened at $14.44 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.63 and a debt-to-equity ratio of 7.05. The stock has a market capitalization of $1.88 billion, a PE ratio of -206.29, a PEG ratio of 3.56 and a beta of 1.76. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $21.15. The firm has a 50-day moving average price of $14.89 and a two-hundred day moving average price of $13.17.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.21). The company had revenue of $256.65 million during the quarter, compared to analyst estimates of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The company’s revenue was down 29.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. As a group, equities analysts anticipate that Extreme Networks will post 0.25 earnings per share for the current fiscal year.

About Extreme Networks

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.