Extreme Networks (NASDAQ:EXTR) Shares Gap Up – Time to Buy?

Extreme Networks, Inc. (NASDAQ:EXTR) gapped up before the market opened on Wednesday . The stock had previously closed at $16.25, but opened at $17.41. Extreme Networks shares last traded at $15.91, with a volume of 409,015 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EXTR. B. Riley boosted their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Craig Hallum upped their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Lake Street Capital lifted their target price on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday. Rosenblatt Securities increased their price target on shares of Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Extreme Networks Stock Performance

The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The company’s fifty day moving average is $17.19 and its two-hundred day moving average is $15.59.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data 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 return on equity of 117.77% and a negative net margin of 11.98%. On average, analysts forecast that Extreme Networks, Inc. will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the transaction, the director now owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Extreme Networks in the third quarter valued at $651,000. Lisanti Capital Growth LLC increased its holdings in Extreme Networks by 61.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock valued at $2,938,000 after acquiring an additional 74,080 shares in the last quarter. Barclays PLC increased its holdings in Extreme Networks by 369.8% during the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after acquiring an additional 171,500 shares in the last quarter. Aquila Investment Management LLC purchased a new stake in shares of Extreme Networks in the third quarter valued at about $962,000. Finally, Victory Capital Management Inc. grew its position 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 valued at $67,124,000 after purchasing an additional 3,399,288 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

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.