Extreme Networks (NASDAQ:EXTR) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a report published on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a $21.00 price objective on the technology company’s stock.

Several other research firms have also weighed in on EXTR. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum increased their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. B. Riley increased their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Stock Down 0.5 %

Shares of EXTR stock traded down $0.09 during trading hours on Wednesday, hitting $16.76. 1,616,802 shares of the company were exchanged, compared to its average volume of 1,280,567. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. Extreme Networks has a one year low of $10.49 and a one year high of $18.77. The business’s 50-day simple moving average is $14.95 and its two-hundred day simple moving average is $13.50. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -17.28, a P/E/G ratio of 3.58 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last released 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 business had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. Extreme Networks’s revenue was down 29.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. Sell-side analysts predict that Extreme Networks will post 0.27 EPS for the current fiscal year.

Insider Activity at Extreme Networks

In related news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now owns 228,733 shares in the company, valued at $3,780,956.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now owns 228,733 shares in the company, valued at $3,780,956.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,667,734.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,175 shares of company stock worth $1,763,279 over the last quarter. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Extreme Networks

A number of large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its holdings in Extreme Networks by 36.6% during the third quarter. Intech Investment Management LLC now owns 81,087 shares of the technology company’s stock worth $1,219,000 after buying an additional 21,739 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Extreme Networks by 57.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock worth $11,097,000 after purchasing an additional 269,459 shares during the period. TrinityPoint Wealth LLC acquired a new position in Extreme Networks in the 3rd quarter worth approximately $179,000. Natixis Advisors LLC acquired a new position in Extreme Networks in the 3rd quarter worth approximately $224,000. Finally, Royce & Associates LP boosted its stake in Extreme Networks by 13.5% in the 3rd quarter. Royce & Associates LP now owns 108,091 shares of the technology company’s stock worth $1,625,000 after purchasing an additional 12,871 shares during the period. 91.05% of the stock is currently owned by institutional investors.

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.