Extreme Networks (NASDAQ:EXTR) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a hold rating in a research report sent to investors on Saturday.

A number of other equities analysts have also weighed in on EXTR. B. Riley upped their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a report on Wednesday. Finally, Craig Hallum boosted their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Price Performance

Shares of EXTR traded down $0.09 during mid-day trading on Friday, reaching $16.76. The stock had a trading volume of 1,616,802 shares, compared to its average volume of 1,280,567. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -17.28, a PEG ratio of 3.58 and a beta of 1.77. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $18.77. The business has a fifty day moving average of $14.95 and a 200 day moving average of $13.52. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share. Equities analysts predict that Extreme Networks will post 0.27 EPS for the current year.

Insider Activity at Extreme Networks

In related news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,667,734.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,175 shares of company stock valued at $1,763,279 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EXTR. SG Americas Securities LLC increased its position in Extreme Networks by 33.1% during the first quarter. SG Americas Securities LLC now owns 44,586 shares of the technology company’s stock valued at $515,000 after acquiring an additional 11,077 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Extreme Networks by 3.1% during the first quarter. Illinois Municipal Retirement Fund now owns 77,836 shares of the technology company’s stock valued at $898,000 after acquiring an additional 2,375 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Extreme Networks during the first quarter valued at $651,000. Headlands Technologies LLC increased its position in Extreme Networks by 223.5% during the first quarter. Headlands Technologies LLC now owns 16,946 shares of the technology company’s stock valued at $196,000 after acquiring an additional 11,707 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Extreme Networks by 7.3% during the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock valued at $294,000 after acquiring an additional 1,741 shares during the last quarter. Institutional investors 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.