B. Riley Upgrades Extreme Networks (NASDAQ:EXTR) to “Buy”

Extreme Networks (NASDAQ:EXTR) was upgraded by B. Riley from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat reports. The firm presently has a $14.00 target price on the technology company’s stock. B. Riley’s target price would indicate a potential upside of 25.79% from the company’s current price.

Several other analysts have also weighed in on the stock. StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Needham & Company LLC lowered their price target 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. TheStreet lowered shares of Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. Rosenblatt Securities lowered shares of Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $15.00 in a report on Thursday, February 1st. Finally, UBS Group lowered shares of Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $14.00 in a report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.36.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $11.13 on Monday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 3.81 and a beta of 1.90. The company has a 50 day moving average of $11.81 and a 200-day moving average of $15.92. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. Extreme Networks has a 1-year low of $10.57 and a 1-year high of $32.73.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data 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 firm had revenue of $296.38 million for the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. On average, equities analysts forecast that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of Extreme Networks stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total transaction of $376,585.32. Following the completion of the sale, the chief executive officer now owns 1,129,611 shares of the company’s stock, valued at approximately $14,956,049.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.32% of the company’s stock.

Institutional Trading of Extreme Networks

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Extreme Networks by 4.2% during the first quarter. BlackRock Inc. now owns 18,666,486 shares of the technology company’s stock worth $356,903,000 after purchasing an additional 751,645 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Extreme Networks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,989,988 shares of the technology company’s stock worth $229,143,000 after purchasing an additional 94,881 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Extreme Networks by 24.0% during the first quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company’s stock worth $134,986,000 after purchasing an additional 2,141,000 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Extreme Networks by 0.6% during the second quarter. State Street Corp now owns 4,585,885 shares of the technology company’s stock worth $119,462,000 after purchasing an additional 29,304 shares in the last quarter. 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.