Extreme Networks, Inc. (EXTR) Upgraded at BidaskClub
BidaskClub upgraded shares of Extreme Networks, Inc. (NASDAQ:EXTR) from a sell rating to a hold rating in a report published on Wednesday morning.
EXTR has been the topic of several other research reports. Needham & Company LLC boosted their price objective on Extreme Networks from $12.50 to $13.00 and gave the stock a buy rating in a research report on Tuesday, August 15th. Zacks Investment Research cut Extreme Networks from a buy rating to a hold rating in a research report on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $9.10.
Shares of Extreme Networks (EXTR) traded up 1.23% during midday trading on Wednesday, reaching $10.68. The company’s stock had a trading volume of 2,075,700 shares. The stock’s market cap is $1.18 billion. The firm has a 50-day moving average of $9.34 and a 200-day moving average of $8.18. Extreme Networks has a one year low of $3.75 and a one year high of $11.03.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Monday, August 14th. The technology company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Extreme Networks had a positive return on equity of 43.34% and a negative net margin of 1.42%. The business had revenue of $178.70 million during the quarter, compared to analysts’ expectations of $171.96 million. During the same period in the prior year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, analysts forecast that Extreme Networks will post $0.70 EPS for the current year.
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.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Extreme Networks during the second quarter worth approximately $397,000. Koch Industries Inc. purchased a new position in shares of Extreme Networks during the second quarter worth approximately $144,000. Ameritas Investment Partners Inc. boosted its position 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 in the last quarter. Castleark Management LLC purchased a new position in shares of Extreme Networks during the second quarter worth approximately $3,417,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Extreme Networks by 139.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 72,936 shares of the technology company’s stock worth $672,000 after buying an additional 42,436 shares in the last quarter. 80.44% of the stock is currently owned by hedge funds and other institutional investors.
Extreme Networks Company Profile
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.
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