Extreme Networks (NASDAQ:EXTR) Shares Gap Up to $10.70

Extreme Networks, Inc. (NASDAQ:EXTRGet Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $10.70, but opened at $11.36. Extreme Networks shares last traded at $11.36, with a volume of 551,963 shares traded.

Analysts Set New Price Targets

EXTR has been the subject of a number of analyst reports. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Needham & Company LLC decreased their target price on Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a research report on Thursday, February 1st. Rosenblatt Securities downgraded Extreme Networks from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $15.00 in a research report on Thursday, February 1st. UBS Group downgraded Extreme Networks from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. Finally, TheStreet lowered Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.36.

View Our Latest Analysis on EXTR

Extreme Networks Price Performance

The firm has a market cap of $1.45 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 3.81 and a beta of 1.90. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The stock has a 50 day moving average price of $11.83 and a two-hundred day moving average price of $16.02.

Extreme Networks (NASDAQ:EXTRGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The business had revenue of $296.38 million for the quarter, compared to analysts’ expectations of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. As a group, equities analysts expect that Extreme Networks, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of Extreme Networks stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total value of $376,585.32. Following the transaction, the chief executive officer now directly owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EXTR. Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 17.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after buying an additional 1,877,727 shares during the period. Raymond James & Associates increased its position in Extreme Networks by 4.1% during the fourth quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock worth $9,526,000 after buying an additional 21,203 shares in the last quarter. Pacer Advisors Inc. increased its position in Extreme Networks by 167,176.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after buying an additional 3,407,064 shares in the last quarter. Loomis Sayles & Co. L P purchased a new position in Extreme Networks during the third quarter worth $31,284,000. Finally, Nordea Investment Management AB grew its position in shares of Extreme Networks by 11.2% in the fourth quarter. Nordea Investment Management AB now owns 254,097 shares of the technology company’s stock valued at $4,458,000 after purchasing an additional 25,614 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

About Extreme Networks

(Get Free Report)

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.

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