B. Riley Increases Extreme Networks (NASDAQ:EXTR) Price Target to $15.00

Extreme Networks (NASDAQ:EXTR) had its target price hoisted by equities research analysts at B. Riley from $14.00 to $15.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. B. Riley’s price objective points to a potential upside of 33.93% from the stock’s previous close.

EXTR has been the topic of several other research reports. StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Craig Hallum dropped their price target on shares of Extreme Networks from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a report on Wednesday. Rosenblatt Securities raised shares of Extreme Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $17.00 in a research note on Thursday. Finally, UBS Group cut Extreme Networks from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $14.00 in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.50.

Extreme Networks Stock Performance

NASDAQ EXTR traded down $0.22 on Thursday, hitting $11.20. 4,770,165 shares of the company’s stock traded hands, compared to its average volume of 2,162,929. Extreme Networks has a 1-year low of $10.57 and a 1-year high of $32.73. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $1.44 billion, a PE ratio of -160.00, a P/E/G ratio of 4.07 and a beta of 1.88. The firm’s 50-day moving average price is $11.52 and its two-hundred day moving average price is $14.80.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. The company had revenue of $296.38 million for the quarter, compared to analysts’ expectations of $295.50 million. As a group, analysts expect that Extreme Networks will post 0.17 EPS for the current year.

Institutional Trading of Extreme Networks

A number of hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. increased its stake in shares of Extreme Networks by 167,176.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after acquiring an additional 3,407,064 shares during the last quarter. Norges Bank purchased a new stake in shares of Extreme Networks in the fourth quarter valued at about $33,267,000. Vanguard Group Inc. increased its position in Extreme Networks by 17.0% during the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock worth $312,191,000 after purchasing an additional 1,877,727 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Extreme Networks during the third quarter worth about $38,999,000. Finally, Fred Alger Management LLC acquired a new position in Extreme Networks in the 3rd quarter valued at about $33,920,000. 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.