Needham & Company LLC Reiterates Buy Rating for Extreme Networks (NASDAQ:EXTR)

Needham & Company LLC reissued their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research note released on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $16.50 price target on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. 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 research report on Monday, April 15th. TheStreet cut shares of Extreme Networks from a b- rating to a c+ rating in a research note on Tuesday, February 20th. StockNews.com cut Extreme Networks from a buy rating to a hold rating in a research note on Thursday, February 1st. Rosenblatt Securities lowered Extreme Networks from a buy rating to a neutral rating and reduced their price objective for the stock from $19.00 to $15.00 in a research report on Thursday, February 1st. Finally, UBS Group cut Extreme Networks from a buy rating to a neutral rating and lowered their target price for the stock from $22.00 to $14.00 in a report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Extreme Networks has a consensus rating of Hold and a consensus target price of $20.50.

Extreme Networks Stock Down 1.9 %

Shares of EXTR stock opened at $11.20 on Wednesday. The business has a fifty day simple moving average of $11.52 and a 200 day simple moving average of $14.74. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.74 and a current ratio of 0.96. Extreme Networks has a twelve month low of $10.57 and a twelve month high of $32.73.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). The business had revenue of $296.38 million for the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. On average, research analysts predict that Extreme Networks will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in shares of Extreme Networks by 101.8% in the first quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock valued at $5,051,000 after buying an additional 220,763 shares during the period. SpiderRock Advisors LLC acquired a new stake in Extreme Networks during the 1st quarter valued at approximately $204,000. Principal Financial Group Inc. raised its holdings in Extreme Networks by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 782,241 shares of the technology company’s stock worth $9,027,000 after purchasing an additional 54,809 shares during the last quarter. Horrell Capital Management Inc. acquired a new position in shares of Extreme Networks in the 1st quarter worth approximately $3,808,000. Finally, Wesbanco Bank Inc. bought a new stake in shares of Extreme Networks in the 1st quarter valued at $594,000. 91.05% of the stock is owned by institutional investors.

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.