Extreme Networks (NASDAQ:EXTR) Stock Rating Upgraded by Zacks Research

Extreme Networks (NASDAQ:EXTR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

A number of other analysts also recently commented on the company. Rosenblatt Securities restated a “buy” rating and issued a $38.00 target price on shares of Extreme Networks in a research note on Thursday, October 29th. B. Riley Financial lifted their price target on Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price target on shares of Extreme Networks in a report on Wednesday, October 28th. Weiss Ratings raised Extreme Networks from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Finally, Oppenheimer restated an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.86.

Extreme Networks Trading Up 2.3%

NASDAQ EXTR opened at $22.81 on Monday. Extreme Networks has a 1 year low of $13.48 and a 1 year high of $33.73. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.02 and a quick ratio of 0.87. The company has a market capitalization of $2.99 billion, a PE ratio of 58.49, a P/E/G ratio of 1.44 and a beta of 1.81. The company has a fifty day moving average of $22.48 and a 200 day moving average of $22.05.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $341.09 million for the quarter, compared to the consensus estimate of $336.75 million. Extreme Networks had a return on equity of 102.41% and a net margin of 3.99%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Research analysts forecast that Extreme Networks will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Kevin R. Rhodes sold 21,825 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $22.30, for a total transaction of $486,697.50. Following the sale, the chief financial officer directly owned 196,803 shares of the company’s stock, valued at $4,388,706.90. This represents a 9.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $21.77, for a total value of $1,088,500.00. Following the sale, the chief executive officer owned 1,710,097 shares in the company, valued at $37,228,811.69. This trade represents a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extreme Networks

A number of large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new stake in Extreme Networks in the second quarter valued at approximately $25,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Extreme Networks in the second quarter valued at approximately $28,000. CoreCap Advisors LLC increased its position in shares of Extreme Networks by 72.3% in the third quarter. CoreCap Advisors LLC now owns 1,201 shares of the technology company’s stock valued at $26,000 after buying an additional 504 shares in the last quarter. Nykredit A S acquired a new position in shares of Extreme Networks during the 2nd quarter worth approximately $48,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after buying an additional 1,484 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Company Profile

Extreme Networks, Inc develops networking solutions that help organizations connect, manage and secure users, devices and applications across campus, data center and distributed environments. Its portfolio includes wired and wireless network infrastructure, Ethernet switches, access points, software-defined wide-area networking (SD-WAN), network access control and cloud-based network management.

The company’s ExtremeCloud platform supports centralized monitoring, configuration, analytics and automation for network operations.