Extreme Networks (NASDAQ:EXTR) Price Target Raised to $22.50

Extreme Networks (NASDAQ:EXTR) had its price target hoisted by stock analysts at Craig Hallum from $17.00 to $22.50 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Craig Hallum’s price target suggests a potential upside of 49.11% from the company’s current price.

Several other research analysts also recently commented on the stock. Rosenblatt Securities raised their price target on shares of Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Stock Up 1.1 %

Extreme Networks stock opened at $15.09 on Thursday. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $18.77. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -15.56, a P/E/G ratio of 3.67 and a beta of 1.76. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The firm has a 50 day simple moving average of $14.88 and a 200 day simple moving average of $13.32.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. 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 previous year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. On average, analysts predict that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction 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 sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 228,733 shares of the company’s stock, valued at $3,780,956.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,175 shares of company stock valued at $1,763,279. Insiders own 3.70% of the company’s stock.

Institutional Trading of Extreme Networks

Hedge funds have recently added to or reduced their stakes in the business. 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 worth $5,051,000 after purchasing an additional 220,763 shares during 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 worth $1,081,000 after purchasing an additional 60,131 shares during the last quarter. M&G Plc bought a new stake in Extreme Networks in the first quarter worth $4,175,000. Victory Capital Management Inc. increased its position in shares of 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 acquiring an additional 841,395 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of Extreme Networks by 491.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock valued at $4,488,000 after acquiring an additional 277,196 shares during the period. 91.05% of the stock is 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.