Extreme Networks, Inc (NASDAQ:EXTR) Receives $11.00 Average Price Target from Analysts
Shares of Extreme Networks, Inc (NASDAQ:EXTR) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $11.00.
EXTR has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Lake Street Capital initiated coverage on shares of Extreme Networks in a research note on Monday, July 29th. They set a “buy” rating and a $9.00 target price on the stock. ValuEngine raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, BidaskClub lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Friday, September 20th.
EXTR traded down $0.33 during midday trading on Thursday, hitting $6.41. 1,585,900 shares of the company were exchanged, compared to its average volume of 1,319,043. The company’s 50 day simple moving average is $7.04 and its 200 day simple moving average is $6.81. The firm has a market capitalization of $808.42 million, a price-to-earnings ratio of 49.31 and a beta of 1.66. The company has a current ratio of 1.06, a quick ratio of 0.86 and a debt-to-equity ratio of 4.42. Extreme Networks has a 1-year low of $5.09 and a 1-year high of $8.59.
In related news, CRO Robert J. Gault sold 39,584 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.73, for a total value of $305,984.32. Following the transaction, the executive now directly owns 294,797 shares of the company’s stock, valued at approximately $2,278,780.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.62% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Extreme Networks by 1.9% in the 2nd quarter. BlackRock Inc. now owns 16,403,080 shares of the technology company’s stock valued at $106,129,000 after buying an additional 301,442 shares in the last quarter. Vanguard Group Inc. lifted its stake in Extreme Networks by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 8,623,647 shares of the technology company’s stock valued at $55,794,000 after buying an additional 498,962 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its stake in Extreme Networks by 0.6% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 6,778,800 shares of the technology company’s stock valued at $43,859,000 after buying an additional 38,500 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Extreme Networks by 44.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 4,754,084 shares of the technology company’s stock valued at $30,759,000 after buying an additional 1,468,606 shares in the last quarter. Finally, FMR LLC lifted its stake in Extreme Networks by 7.6% in the 1st quarter. FMR LLC now owns 3,623,714 shares of the technology company’s stock valued at $27,142,000 after buying an additional 255,096 shares in the last quarter. 79.16% of the stock is currently owned by hedge funds and other institutional investors.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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