Craig Hallum Lowers Extreme Networks (NASDAQ:EXTR) Price Target to $13.00

Extreme Networks (NASDAQ:EXTR) had its price objective trimmed by Craig Hallum from $15.00 to $13.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

Several other brokerages also recently commented on EXTR. StockNews.com downgraded shares of Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. Needham & Company LLC reaffirmed a buy rating and set a $16.50 target price on shares of Extreme Networks in a research report on Wednesday, May 1st. Rosenblatt Securities raised Extreme Networks from a neutral rating to a buy rating and increased their price objective for the stock from $15.00 to $17.00 in a research note on Thursday. B. Riley upgraded 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. Finally, TheStreet downgraded shares of Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $20.50.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $11.20 on Thursday. The stock has a 50 day moving average price of $11.52 and a 200-day moving average price of $14.69. Extreme Networks has a one year low of $10.57 and a one year high of $32.73. The company has a current ratio of 0.96, a quick ratio of 0.61 and a debt-to-equity ratio of 2.78.

Institutional Investors Weigh In On Extreme Networks

Several institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its holdings in shares of Extreme Networks by 4,924.4% in the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after purchasing an additional 2,019 shares during the period. Asset Management One Co. Ltd. purchased a new position in Extreme Networks in the 3rd quarter valued at about $37,000. Tucker Asset Management LLC purchased a new stake in Extreme Networks during the 3rd quarter worth approximately $41,000. Hennessy Advisors Inc. purchased a new position in shares of Extreme Networks in the fourth quarter valued at approximately $82,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Extreme Networks in the third quarter worth approximately $91,000. 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.