Extreme Networks, Inc. (NASDAQ:EXTR) Receives $22.36 Consensus Target Price from Analysts

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $22.36.

Several equities analysts recently commented on EXTR shares. UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $14.00 in a research note on Thursday, February 1st. Needham & Company LLC lowered their price objective on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a report on Thursday, February 1st. B. Riley upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Monday, April 15th. Rosenblatt Securities lowered shares of Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $19.00 to $15.00 in a report on Thursday, February 1st. Finally, TheStreet lowered shares of Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $11.20 on Friday. Extreme Networks has a 52-week low of $10.57 and a 52-week high of $32.73. The company has a 50-day simple moving average of $11.57 and a 200 day simple moving average of $14.93. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. The company has a market capitalization of $1.44 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 4.14 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.05). The business had revenue of $296.38 million during the quarter, compared to analysts’ expectations of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. On average, research analysts predict that Extreme Networks will post 0.17 EPS for the current year.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $13.24, for a total value of $376,585.32. Following the transaction, the chief executive officer now owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds and other institutional investors have recently bought and sold shares of EXTR. Pacer Advisors Inc. increased its holdings in Extreme Networks by 167,176.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after acquiring an additional 3,407,064 shares in the last quarter. Norges Bank bought a new position in shares of Extreme Networks during the 4th quarter valued at approximately $33,267,000. Vanguard Group Inc. boosted its position in shares of Extreme Networks by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after acquiring an additional 1,877,727 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Extreme Networks during the 3rd quarter valued at approximately $38,999,000. Finally, Fred Alger Management LLC bought a new stake in Extreme Networks in the third quarter worth $33,920,000. Institutional investors 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.