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.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.05. Extreme Networks had a negative net margin of 5.39% and a positive return on equity of 10.49%. The business had revenue of $255.51 million for the quarter, compared to analyst estimates of $253.26 million. During the same period in the prior year, the company posted $0.08 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that Extreme Networks will post 0.36 EPS for the current year.

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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