Extreme Networks (NASDAQ:EXTR) Rating Increased to Buy at B. Riley

B. Riley upgraded shares of Extreme Networks (NASDAQ:EXTR) from a neutral rating to a buy rating in a research report report published on Monday, Marketbeat Ratings reports. B. Riley currently has $14.00 price objective on the technology company’s stock.

A number of other analysts also recently weighed in on the company. Rosenblatt Securities downgraded Extreme Networks from a buy rating to a neutral rating and dropped their target price for the stock from $19.00 to $15.00 in a research report on Thursday, February 1st. UBS Group lowered shares of Extreme Networks from a buy rating to a neutral rating and reduced their target price for the company from $22.00 to $14.00 in a report on Thursday, February 1st. TheStreet cut shares of Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. StockNews.com cut Extreme Networks from a buy rating to a hold rating in a research note on Thursday, February 1st. Finally, Needham & Company LLC lowered their target price on Extreme Networks from $23.00 to $16.50 and set a buy rating for the company in a research note on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $22.36.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $11.13 on Monday. The company’s fifty day moving average price is $11.79 and its 200-day moving average price is $15.83. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 3.97 and a beta of 1.90. Extreme Networks has a one year low of $10.57 and a one year high of $32.73.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. The company had revenue of $296.38 million during the quarter, compared to analysts’ expectations of $295.50 million. On average, equities research analysts anticipate that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 28,443 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $13.24, for a total value of $376,585.32. Following the sale, the chief executive officer now directly owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of Extreme Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXTR. Vanguard Group Inc. increased its position in Extreme Networks by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after purchasing an additional 1,877,727 shares during the period. Raymond James & Associates increased its position in shares of Extreme Networks by 4.1% during the fourth quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock valued at $9,526,000 after buying an additional 21,203 shares during the period. Pacer Advisors Inc. raised its stake in Extreme Networks by 167,176.8% in 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 stake in Extreme Networks in the third quarter worth about $31,284,000. Finally, Voss Capital LLC boosted its position in Extreme Networks by 55.6% during the 4th quarter. Voss Capital LLC now owns 2,170,500 shares of the technology company’s stock valued at $38,288,000 after acquiring an additional 775,500 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Company Profile

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.