Extreme Networks (NASDAQ:EXTR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Extreme Networks (NASDAQ:EXTR) from a hold rating to a buy rating in a research report released on Friday.

A number of other analysts have also commented on EXTR. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. B. Riley lifted their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Craig Hallum lifted their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday. Finally, 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Stock Up 1.1 %

EXTR stock traded up $0.16 on Friday, reaching $15.09. 1,441,937 shares of the company traded hands, compared to its average volume of 1,870,505. Extreme Networks has a one year low of $10.49 and a one year high of $18.77. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The company has a market cap of $1.99 billion, a P/E ratio of -15.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76. The firm has a fifty day simple moving average of $14.88 and a 200-day simple moving average of $13.32.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The business 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 firm’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. Research analysts anticipate that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Transactions at Extreme Networks

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

Hedge Funds Weigh In On Extreme Networks

Several large investors have recently made changes to their positions in EXTR. Vanguard Group Inc. lifted its position in shares of Extreme Networks by 16.9% in the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock valued at $175,191,000 after acquiring an additional 2,191,181 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Extreme Networks in the second quarter valued at about $25,409,000. Rubric Capital Management LP lifted its position in shares of Extreme Networks by 52.3% in the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock valued at $70,676,000 after acquiring an additional 1,804,744 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Extreme Networks by 373.4% in the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after purchasing an additional 841,395 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Extreme Networks by 265.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock worth $9,839,000 after purchasing an additional 531,500 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other 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.