Extreme Networks (NASDAQ:EXTR) Earns Buy Rating from Rosenblatt Securities

Extreme Networks (NASDAQ:EXTR)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They currently have a $21.00 target price on the technology company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 24.63% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. B. Riley boosted their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Craig Hallum increased their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Extreme Networks has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Stock Up 2.4 %

EXTR stock opened at $16.85 on Wednesday. Extreme Networks has a 52 week low of $10.49 and a 52 week high of $18.77. 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 has a 50-day simple moving average of $14.93 and a 200-day simple moving average of $13.46. The stock has a market capitalization of $2.23 billion, a P/E ratio of -17.37, a P/E/G ratio of 3.51 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last posted 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). The firm had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. Extreme Networks’s quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. Equities analysts forecast that Extreme Networks will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now directly owns 228,733 shares in the company, valued at $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Raj Khanna sold 10,000 shares of the company’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 sale, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,175 shares of company stock worth $1,763,279. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Extreme Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after acquiring an additional 3,399,288 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock valued at $175,191,000 after purchasing an additional 2,191,181 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Extreme Networks in the 2nd quarter valued at about $25,409,000. Rubric Capital Management LP grew its stake in Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after buying an additional 1,804,744 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Extreme Networks by 265.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock worth $9,839,000 after buying an additional 531,500 shares during the period. 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.