Extreme Networks, Inc. (EXTR) Receives Consensus Rating of “Buy” from Brokerages
Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $13.33.
Several equities analysts have commented on the company. BidaskClub downgraded Extreme Networks from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, August 18th. Needham & Company LLC reiterated a “buy” rating on shares of Extreme Networks in a research report on Friday, November 10th. Craig Hallum restated a “buy” rating and set a $17.00 price objective (up from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Finally, ValuEngine downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.
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In other Extreme Networks news, Director Kathleen M. Holmgren bought 5,000 shares of the stock in a transaction on Wednesday, August 30th. The stock was acquired at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the acquisition, the director now owns 36,662 shares in the company, valued at approximately $421,246.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $10.52, for a total value of $1,052,000.00. Following the completion of the sale, the insider now owns 471,653 shares of the company’s stock, valued at $4,961,789.56. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank increased its holdings in 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 purchasing an additional 1,378 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in 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 purchasing an additional 1,565 shares in the last quarter. Legal & General Group Plc increased its holdings in 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 purchasing an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Extreme Networks by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 84,882 shares of the technology company’s stock worth $782,000 after purchasing an additional 3,319 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Extreme Networks by 7.8% in the second quarter. Voya Investment Management LLC now owns 51,883 shares of the technology company’s stock worth $478,000 after purchasing an additional 3,773 shares in the last quarter. Institutional investors and hedge funds own 76.89% of the company’s stock.
Extreme Networks (NASDAQ EXTR) traded down $0.02 during trading on Friday, reaching $12.81. The company’s stock had a trading volume of 3,062,876 shares, compared to its average volume of 1,639,614. The company has a quick ratio of 1.09, a current ratio of 1.31 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $1,452.91, a P/E ratio of 29.79, a PEG ratio of 1.35 and a beta of 1.13. Extreme Networks has a 1 year low of $4.17 and a 1 year high of $13.20.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Tuesday, November 7th. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $211.72 million during the quarter, compared to the consensus estimate of $203.86 million. Extreme Networks had a return on equity of 46.58% and a net margin of 0.34%. The business’s quarterly revenue was up 72.5% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. equities research analysts forecast that Extreme Networks will post 0.56 EPS for the current 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.
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