Extreme Networks (NASDAQ:EXTR) Price Target Raised to $21.00

Extreme Networks (NASDAQ:EXTR) had its target price boosted by equities researchers at Rosenblatt Securities from $17.00 to $21.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 39.17% from the company’s current price.

EXTR has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum lifted their target price on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Stock Up 1.1 %

EXTR opened at $15.09 on Thursday. Extreme Networks has a one year low of $10.49 and a one year high of $18.77. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The stock’s fifty day moving average is $14.88 and its 200-day moving average is $13.32. The company has a market capitalization of $1.99 billion, a PE ratio of -15.56, a P/E/G ratio of 3.67 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. During the same period in the prior year, the firm posted $0.24 EPS. The firm’s quarterly revenue was down 29.5% on a year-over-year basis. On average, equities analysts predict that Extreme Networks will post 0.25 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of $536,589.50. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,754,637.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the sale, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,175 shares of company stock worth $1,763,279. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of EXTR. Vanguard Group Inc. boosted its position in shares of Extreme Networks by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after purchasing an additional 2,191,181 shares during the last quarter. Rubric Capital Management LP increased its position in shares of Extreme Networks by 52.3% in the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock valued at $70,676,000 after acquiring an additional 1,804,744 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Extreme Networks during the second quarter worth approximately $25,409,000. Victory Capital Management Inc. boosted its holdings in shares of Extreme Networks by 373.4% during the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after acquiring an additional 841,395 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Extreme Networks by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock worth $14,192,000 after acquiring an additional 3,572 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.