Rosenblatt Securities Boosts Extreme Networks (NASDAQ:EXTR) Price Target to $21.00

Extreme Networks (NASDAQ:EXTR) had its price objective hoisted by Rosenblatt Securities from $17.00 to $21.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum lifted their target price on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Extreme Networks has an average rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $15.09 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The firm’s 50-day moving average is $14.88 and its two-hundred day moving average is $13.34. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $18.77.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The company had revenue of $256.65 million during the quarter, compared to analyst estimates of $253.21 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue was down 29.5% compared to the same quarter last year. As a group, research analysts anticipate that Extreme Networks will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the transaction, the director now owns 228,733 shares in the company, valued at $3,780,956.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,363,575.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,175 shares of company stock valued at $1,763,279. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Extreme Networks

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in Extreme Networks by 101.8% during the 1st quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock worth $5,051,000 after buying an additional 220,763 shares during the last quarter. Brooktree Capital Management lifted its stake in Extreme Networks by 45.9% during the first quarter. Brooktree Capital Management now owns 221,187 shares of the technology company’s stock worth $2,552,000 after purchasing an additional 69,625 shares during the last quarter. Gallacher Capital Management LLC boosted its holdings in Extreme Networks by 20.8% in the first quarter. Gallacher Capital Management LLC now owns 17,590 shares of the technology company’s stock valued at $203,000 after purchasing an additional 3,031 shares in the last quarter. Duality Advisers LP increased its stake in Extreme Networks by 355.3% in the first quarter. Duality Advisers LP now owns 241,397 shares of the technology company’s stock valued at $2,786,000 after purchasing an additional 188,372 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Extreme Networks by 33.1% during the first quarter. SG Americas Securities LLC now owns 44,586 shares of the technology company’s stock worth $515,000 after purchasing an additional 11,077 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.