Cowen Begins Coverage on Extreme Networks (NASDAQ:EXTR)

Cowen initiated coverage on shares of Extreme Networks (NASDAQ:EXTR) in a note issued to investors on Wednesday, December 20th, Marketbeat Ratings reports. The firm set an “outperform” rating and a $16.00 price target on the technology company’s stock. Cowen’s price target points to a potential upside of 20.03% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $17.00 target price (up previously from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. ValuEngine raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Needham & Company LLC reissued a “buy” rating on shares of Extreme Networks in a research report on Friday, November 10th. Finally, Zacks Investment Research raised shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $14.17.

Extreme Networks (EXTR) opened at $13.33 on Wednesday. Extreme Networks has a 1-year low of $5.22 and a 1-year high of $14.34. The stock has a market cap of $1,510.00, a P/E ratio of 666.50, a PEG ratio of 1.31 and a beta of 1.14. The company has a current ratio of 1.31, a quick ratio of 1.09 and a debt-to-equity ratio of 1.11.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Extreme Networks had a net margin of 0.34% and a return on equity of 46.58%. The firm had revenue of $211.72 million during the quarter, compared to analyst estimates of $203.86 million. During the same period last year, the business earned $0.07 earnings per share. The business’s revenue was up 72.5% on a year-over-year basis. sell-side analysts predict that Extreme Networks will post 0.6 EPS for the current fiscal year.

In related news, Director Charles Carinalli sold 20,000 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $12.91, for a total transaction of $258,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total transaction of $138,100.00. Following the transaction, the director now owns 99,523 shares in the company, valued at $1,374,412.63. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Paradigm Asset Management Co. LLC bought a new position in Extreme Networks in the 2nd quarter worth about $141,000. Goldman Sachs Group Inc. lifted its position in shares of Extreme Networks by 474.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,593,826 shares of the technology company’s stock worth $14,695,000 after purchasing an additional 1,316,604 shares during the period. California Public Employees Retirement System lifted its position in shares of Extreme Networks by 3.0% in the 2nd quarter. California Public Employees Retirement System now owns 331,300 shares of the technology company’s stock worth $3,055,000 after purchasing an additional 9,800 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of Extreme Networks by 31.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 61,569 shares of the technology company’s stock worth $568,000 after purchasing an additional 14,598 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Extreme Networks by 20.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,260 shares of the technology company’s stock worth $602,000 after purchasing an additional 10,962 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.

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Extreme Networks Company Profile

Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.

Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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