StockNews.com Upgrades Extreme Networks (NASDAQ:EXTR) to “Buy”

StockNews.com upgraded shares of Extreme Networks (NASDAQ:EXTR) from a hold rating to a buy rating in a research report report published on Sunday.

Several other equities research analysts have also recently issued reports on EXTR. B. Riley lifted their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and set a $21.00 price target on shares of Extreme Networks in a report on Wednesday, November 6th. Craig Hallum upped their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.50 target price on shares of Extreme Networks in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Stock Performance

Shares of NASDAQ EXTR opened at $15.61 on Friday. The company has a market cap of $2.06 billion, a P/E ratio of -16.09, a P/E/G ratio of 3.40 and a beta of 1.77. Extreme Networks has a 52-week low of $10.49 and a 52-week 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 firm’s fifty day moving average is $15.14 and its two-hundred day moving average is $13.69.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,667,734.88. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,175 shares of company stock worth $1,763,279 over the last ninety days. Company 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. Vanguard Group Inc. boosted its stake in shares of Extreme Networks by 16.9% during the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock valued at $175,191,000 after purchasing an additional 2,191,181 shares in the last quarter. Rubric Capital Management LP lifted its holdings in Extreme Networks by 52.3% during the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after buying an additional 1,804,744 shares during the period. State Street Corp boosted its position in Extreme Networks by 1.0% during the 3rd quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock valued at $77,164,000 after acquiring an additional 49,905 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Extreme Networks by 318.7% in the 3rd 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 during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Extreme Networks in the 2nd quarter worth $25,409,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

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.