Extreme Networks (NASDAQ:EXTR) Upgraded to “Buy” at 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 Thursday morning.

Several other research analysts have also recently commented on the stock. Craig Hallum raised 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. Rosenblatt Securities restated a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. Finally, B. Riley upped their target price on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $17.72 on Thursday. The stock has a 50 day simple moving average of $16.20 and a 200 day simple moving average of $14.66. The stock has a market cap of $2.34 billion, a P/E ratio of -18.27, a PEG ratio of 3.87 and a beta of 1.76. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $19.24. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the sale, the director now owns 228,733 shares in the company, valued at $3,780,956.49. This trade represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,450 shares of company stock valued at $1,390,490. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

Hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in Extreme Networks in the 3rd quarter worth about $26,000. GAMMA Investing LLC boosted its position in Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after buying an additional 1,035 shares during the period. KBC Group NV lifted its holdings in shares of Extreme Networks by 54.3% during the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after purchasing an additional 1,745 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,709 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in Extreme Networks in the second quarter valued at $148,000. 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.