Extreme Networks (NASDAQ: EXTR) recently received a number of ratings updates from brokerages and research firms:
- 9/19/2016 – Extreme Networks had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $4.75 price target on the stock, up previously from $4.30.
- 9/15/2016 – Extreme Networks was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $5.00 price target on the stock.
- 9/15/2016 – Extreme Networks had its price target raised by analysts at Buckingham Research from $4.00 to $4.50. They now have a “neutral” rating on the stock.
- 9/15/2016 – Extreme Networks had its price target raised by analysts at Wunderlich from $5.00 to $6.00. They now have a “buy” rating on the stock.
- 8/31/2016 – Extreme Networks had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $4.30 price target on the stock.
- 8/8/2016 – Extreme Networks was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $4.50 price target on the stock. According to Zacks, “Extreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs. “
Extreme Networks Inc. (NASDAQ:EXTR) traded up 0.65% during mid-day trading on Tuesday, hitting $4.65. 208,597 shares of the stock were exchanged. Extreme Networks Inc. has a 52 week low of $2.32 and a 52 week high of $4.65. The company has a 50 day moving average price of $4.12 and a 200 day moving average price of $3.65. The stock’s market cap is $494.70 million.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. Extreme Networks had a positive return on equity of 15.59% and a negative net margin of 6.03%. The firm had revenue of $140 million for the quarter, compared to analysts’ expectations of $141.89 million. During the same period in the prior year, the business posted $0.10 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. Analysts expect that Extreme Networks Inc. will post $0.34 EPS for the current fiscal year.
In other news, Director John H. Kispert sold 25,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $3.80, for a total transaction of $95,000.00. Following the sale, the director now owns 180,748 shares in the company, valued at $686,842.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Shoemaker sold 15,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $4.25, for a total value of $63,750.00. Following the sale, the director now owns 220,748 shares in the company, valued at approximately $938,179. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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