Extreme Networks’ (EXTR) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $22.00 price objective on the technology company’s stock.

Several other brokerages have also recently issued reports on EXTR. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. B. Riley increased their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, January 30th. Craig Hallum increased their target price on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Lake Street Capital lifted their price target on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Extreme Networks Stock Performance

Extreme Networks stock opened at $15.39 on Friday. Extreme Networks has a fifty-two week low of $10.49 and a fifty-two week high of $19.24. The company has a market capitalization of $2.04 billion, a PE ratio of -16.37, a P/E/G ratio of 3.44 and a beta of 1.73. The company has a 50 day moving average price of $17.09 and a 200-day moving average price of $15.65. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share 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 110.86%. As a group, equities analysts forecast that Extreme Networks will post 0.27 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total transaction of $80,300.00. Following the completion of the sale, the director now owns 371,793 shares in the company, valued at approximately $5,970,995.58. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the sale, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,725 shares of company stock worth $713,608 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds have recently modified their holdings of EXTR. State Street Corp grew 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 worth $77,164,000 after purchasing an additional 49,905 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after buying an additional 3,399,288 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Extreme Networks by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,500 shares of the technology company’s stock worth $20,448,000 after buying an additional 61,867 shares during the period. Portolan Capital Management LLC grew its holdings in shares of Extreme Networks by 194.6% during the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after buying an additional 700,724 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of 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 valued at $11,097,000 after acquiring an additional 269,459 shares during the period. Institutional investors and hedge funds 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.