Extreme Networks’ (EXTR) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research report released on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $38.00 target price on the technology company’s stock.

A number of other research firms have also weighed in on EXTR. B. Riley Financial raised their target price on Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 16th. Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $35.00 price objective on shares of Extreme Networks in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.86.

Extreme Networks Trading Down 4.2%

NASDAQ:EXTR opened at $22.61 on Thursday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.02 and a quick ratio of 0.81. The firm has a 50-day moving average of $22.48 and a 200-day moving average of $21.99. The company has a market cap of $2.99 billion, a PE ratio of 57.98, a PEG ratio of 1.65 and a beta of 1.76. Extreme Networks has a one year low of $13.48 and a one year high of $33.73.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, October 28th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Extreme Networks had a net margin of 3.99% and a return on equity of 102.41%. The company had revenue of $341.09 million for the quarter, compared to analyst estimates of $336.75 million. During the same quarter in the prior year, the business posted $0.22 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts expect that Extreme Networks will post 0.86 EPS for the current fiscal year.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 50,000 shares of the 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 completion of the sale, the chief executive officer owned 1,710,097 shares in the company, valued at approximately $37,228,811.69. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin 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 completion of the sale, the chief financial officer owned 196,803 shares of the company’s stock, valued at approximately $4,388,706.90. This trade represents a 9.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 121,825 shares of company stock valued at $3,064,698 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extreme Networks

Institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Extreme Networks during the second quarter valued at about $674,661,000. Paradigm Capital Management Inc. NY bought a new stake in Extreme Networks in the second quarter worth about $137,291,000. Bank of America Corp DE bought a new stake in Extreme Networks in the second quarter worth about $45,531,000. SEB Asset Management AB purchased a new position in Extreme Networks in the first quarter valued at about $12,192,000. Finally, Bank of New York Mellon Corp purchased a new position in Extreme Networks in the second quarter valued at about $23,896,000. 91.05% of the stock is owned by institutional investors.

About Extreme Networks

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.