Brokerages Set Extreme Networks, Inc. (NASDAQ:EXTR) Price Target at $15.90

Extreme Networks, Inc. (NASDAQ:EXTR) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $15.90.

Several equities research analysts recently issued reports on EXTR shares. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum upped their price target on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 8th.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in shares of Extreme Networks by 101.8% during the 1st 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 last quarter. Gallacher Capital Management LLC purchased a new position in shares of Extreme Networks during the 4th quarter valued at $257,000. Seven Eight Capital LP lifted its position in shares of Extreme Networks by 724.8% during the 4th quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock valued at $3,420,000 after buying an additional 170,395 shares during the last quarter. Mirador Capital Partners LP lifted its position in shares of Extreme Networks by 68.1% during the 1st quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock valued at $2,850,000 after buying an additional 100,075 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Extreme Networks by 297.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock valued at $1,081,000 after buying an additional 60,131 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Down 1.8 %

NASDAQ EXTR opened at $14.43 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -206.14, a P/E/G ratio of 3.63 and a beta of 1.79. Extreme Networks has a 52 week low of $10.49 and a 52 week high of $27.25. The business has a 50 day moving average price of $13.96 and a 200-day moving average price of $12.42. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 7.05.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The company had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. During the same quarter last year, the company posted $0.24 EPS. The company’s quarterly revenue was down 29.5% compared to the same quarter last year. As a group, equities analysts expect that Extreme Networks will post 0.25 earnings per share for the current fiscal year.

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.