Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $15.90.

Several equities research analysts have issued reports on the stock. Craig Hallum raised their price objective 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 reissued a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Extreme Networks

Hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC boosted its position in shares of Extreme Networks by 42.9% during the 2nd quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock worth $11,507,000 after acquiring an additional 256,765 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Extreme Networks by 61.1% during the second quarter. Point72 Asset Management L.P. now owns 689,222 shares of the technology company’s stock worth $9,270,000 after purchasing an additional 261,322 shares during the last quarter. Clearline Capital LP boosted its holdings in shares of Extreme Networks by 252.4% in the 2nd quarter. Clearline Capital LP now owns 613,360 shares of the technology company’s stock valued at $8,250,000 after purchasing an additional 439,321 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in shares of Extreme Networks by 23.1% in the 2nd quarter. SkyView Investment Advisors LLC now owns 93,308 shares of the technology company’s stock valued at $1,255,000 after purchasing an additional 17,510 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of Extreme Networks by 491.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock worth $4,488,000 after buying an additional 277,196 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Extreme Networks Stock Down 3.7 %

EXTR stock opened at $13.70 on Friday. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $26.32. The business’s 50 day simple moving average is $13.98 and its 200 day simple moving average is $12.43. 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 firm has a market capitalization of $1.78 billion, a PE ratio of -195.71, a PEG ratio of 3.63 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS 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%. Extreme Networks’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. As a group, research analysts anticipate that Extreme Networks will post 0.25 EPS for the current 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.