Extreme Networks’ (EXTR) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $20.00 price objective on the technology company’s stock.

EXTR has been the subject of a number of other reports. Craig Hallum lifted their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities upped their price objective on Extreme Networks from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday. B. Riley raised their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.25.

Extreme Networks Trading Down 1.1 %

Shares of EXTR stock opened at $15.60 on Thursday. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $19.24. The business’s fifty day moving average is $17.19 and its 200 day moving average is $15.59. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 117.77%. Equities research analysts forecast that Extreme Networks will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Extreme Networks

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $16.06, for a total transaction of $80,300.00. Following the completion of the transaction, the director now owns 371,793 shares of the company’s stock, valued at approximately $5,970,995.58. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Extreme Networks

Several hedge funds and other institutional investors have recently made changes to their positions in EXTR. State Street Corp raised its stake in Extreme Networks by 1.0% during the third quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock valued at $77,164,000 after buying an additional 49,905 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after acquiring an additional 3,399,288 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Extreme Networks by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock worth $17,429,000 after purchasing an additional 8,169 shares during the last quarter. Portolan Capital Management LLC boosted its stake in Extreme Networks by 194.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock worth $15,944,000 after purchasing an additional 700,724 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in Extreme Networks by 42.9% during the 2nd quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock valued at $11,507,000 after purchasing an additional 256,765 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.