Brokerages Set Extreme Networks, Inc. (EXTR) Price Target at $8.25
Extreme Networks, Inc. (NASDAQ:EXTR) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.38.
Several brokerages recently issued reports on EXTR. BidaskClub downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Needham & Company LLC upped their price target on Extreme Networks from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th.
ILLEGAL ACTIVITY NOTICE: “Brokerages Set Extreme Networks, Inc. (EXTR) Price Target at $8.25” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/16/brokerages-set-extreme-networks-inc-extr-price-target-at-8-25.html.
In other news, insider Edward Meyercord sold 65,000 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $10.10, for a total transaction of $656,500.00. Following the transaction, the insider now owns 563,034 shares of the company’s stock, valued at approximately $5,686,643.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.91% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY boosted its position in shares of Extreme Networks by 1.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 68,021 shares of the technology company’s stock worth $342,000 after buying an additional 1,103 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Extreme Networks by 10.9% in the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock worth $130,000 after buying an additional 1,378 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Extreme Networks by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock worth $124,000 after buying an additional 1,565 shares during the period. Legal & General Group Plc boosted its stake in shares of Extreme Networks by 7.4% in the second quarter. Legal & General Group Plc now owns 26,483 shares of the technology company’s stock worth $245,000 after buying an additional 1,819 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Extreme Networks by 7.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 30,500 shares of the technology company’s stock worth $229,000 after buying an additional 2,000 shares during the period. 80.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Extreme Networks (NASDAQ:EXTR) traded up 0.337% on Friday, reaching $10.425. 2,231,853 shares of the company traded hands. Extreme Networks has a one year low of $3.75 and a one year high of $11.03. The firm’s 50 day moving average is $9.28 and its 200 day moving average is $8.11. The company’s market capitalization is $1.15 billion.
Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business had revenue of $178.70 million during the quarter, compared to analyst estimates of $171.96 million. Extreme Networks had a negative net margin of 1.42% and a positive return on equity of 43.34%. Extreme Networks’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. Analysts expect that Extreme Networks will post $0.48 earnings per share for the current fiscal year.
About Extreme Networks
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
Receive News & Stock Ratings for Extreme Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extreme Networks Inc. and related stocks with our FREE daily email newsletter.