Extreme Networks (NASDAQ:EXTR) Upgraded by B. Riley to Buy

B. Riley upgraded shares of Extreme Networks (NASDAQ:EXTR) from a neutral rating to a buy rating in a report released on Monday morning, MarketBeat reports. The firm currently has $14.00 target price on the technology company’s stock.

A number of other equities analysts have also commented on EXTR. Needham & Company LLC reduced their price objective on Extreme Networks from $23.00 to $16.50 and set a buy rating on the stock in a research note 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 downgraded shares of Extreme Networks from a buy rating to a neutral rating and dropped their target price for the stock from $19.00 to $15.00 in a research note on Thursday, February 1st. StockNews.com cut shares of Extreme Networks from a buy rating to a hold rating in a research note on Thursday, February 1st. Finally, UBS Group cut shares of Extreme Networks from a buy rating to a neutral rating and dropped their price objective for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $22.36.

Extreme Networks Stock Down 1.7 %

EXTR opened at $10.94 on Monday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 3.97 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. The firm’s 50-day simple moving average is $11.77 and its 200-day simple moving average is $15.80. 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 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). Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. The firm had revenue of $296.38 million for the quarter, compared to the consensus estimate of $295.50 million. Equities research analysts anticipate that Extreme Networks will post 0.17 EPS for the current fiscal year.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 28,443 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $13.24, for a total transaction of $376,585.32. Following the sale, the chief executive officer now owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its stake in Extreme Networks by 49.8% in the 4th quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company’s stock worth $33,000 after purchasing an additional 592 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Extreme Networks by 4,924.4% during the 4th quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after acquiring an additional 2,019 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Extreme Networks in the third quarter valued at approximately $37,000. Tucker Asset Management LLC bought a new position in Extreme Networks during the 3rd quarter worth $41,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Extreme Networks by 101.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,876 shares of the technology company’s stock valued at $45,000 after purchasing an additional 947 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

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.