Craig Hallum Forecasts Strong Price Appreciation for Extreme Networks (NASDAQ:EXTR) Stock

Extreme Networks (NASDAQ:EXTR) had its price objective raised by stock analysts at Craig Hallum from $17.00 to $22.50 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price target points to a potential upside of 47.93% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Rosenblatt Securities raised their price target on Extreme Networks from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.80.

Extreme Networks Trading Down 4.5 %

Shares of NASDAQ:EXTR traded down $0.71 during trading on Thursday, hitting $15.21. The company had a trading volume of 375,375 shares, compared to its average volume of 1,863,510. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -218.71, a price-to-earnings-growth ratio of 3.37 and a beta of 1.76. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.90 and a quick ratio of 0.63. The company has a fifty day simple moving average of $14.88 and a two-hundred day simple moving average of $13.28. Extreme Networks has a one year low of $10.49 and a one year high of $20.83.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) 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 firm had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was down 29.5% compared to the same quarter last year. As a group, equities analysts forecast that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.32% of the stock is owned by insiders.

Institutional Trading of Extreme Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. Andina Capital Management LLC grew its holdings in Extreme Networks by 3.8% during the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock worth $264,000 after acquiring an additional 719 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,035 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Extreme Networks by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock valued at $880,000 after buying an additional 1,600 shares during the period. ProShare Advisors LLC raised its stake in Extreme Networks by 7.3% in the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock worth $294,000 after buying an additional 1,741 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Extreme Networks by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock worth $867,000 after buying an additional 1,749 shares during the period. 91.05% of the stock is currently owned by institutional investors.

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.