BidaskClub cut shares of Extreme Networks (NASDAQ:EXTR) from a strong-buy rating to a buy rating in a report published on Friday morning.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Extreme Networks from a buy rating to a hold rating in a research note on Tuesday, January 9th. Craig Hallum reaffirmed a buy rating and set a $17.00 target price (up previously from $12.50) on shares of Extreme Networks in a research note on Wednesday, November 8th. Cowen started coverage on Extreme Networks in a research note on Wednesday, December 20th. They set an outperform rating and a $16.00 target price for the company. Needham & Company LLC reaffirmed a buy rating on shares of Extreme Networks in a research note on Friday, November 10th. Finally, JMP Securities started coverage on Extreme Networks in a research note on Wednesday, January 3rd. They set an outperform rating and a $16.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $16.08.
Extreme Networks (NASDAQ:EXTR) opened at $12.05 on Friday. The company has a market capitalization of $1,388.97, a price-to-earnings ratio of 28.02, a PEG ratio of 1.18 and a beta of 1.32. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 1.44. Extreme Networks has a fifty-two week low of $6.00 and a fifty-two week high of $15.55.
Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. The company had revenue of $231.12 million for the quarter, compared to analyst estimates of $241.49 million. During the same period last year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 47.8% compared to the same quarter last year. sell-side analysts predict that Extreme Networks will post 0.6 EPS for the current fiscal year.
In related news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total transaction of $138,100.00. Following the completion of the transaction, the director now owns 99,523 shares of the company’s stock, valued at $1,374,412.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in EXTR. TIAA CREF Investment Management LLC boosted its position in shares of Extreme Networks by 181.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,809,162 shares of the technology company’s stock valued at $47,691,000 after purchasing an additional 2,453,458 shares during the period. Copper Rock Capital Partners LLC acquired a new position in shares of Extreme Networks in the 4th quarter valued at $24,503,000. Allianz Asset Management GmbH boosted its position in shares of Extreme Networks by 811.5% in the 4th quarter. Allianz Asset Management GmbH now owns 933,210 shares of the technology company’s stock valued at $11,684,000 after purchasing an additional 830,833 shares during the period. Vanguard Group Inc. boosted its position in shares of Extreme Networks by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock valued at $74,138,000 after purchasing an additional 830,103 shares during the period. Finally, FMR LLC boosted its position in shares of Extreme Networks by 57.9% in the 2nd quarter. FMR LLC now owns 2,130,799 shares of the technology company’s stock valued at $19,647,000 after purchasing an additional 781,130 shares during the period. Institutional investors and hedge funds own 74.53% of the company’s stock.
About Extreme Networks
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.
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