Zacks Investment Research upgraded shares of Extreme Networks (NASDAQ:EXTR) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $12.00 target price on the technology company’s 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. “
EXTR has been the topic of a number of other reports. BidaskClub lowered Extreme Networks from a strong-buy rating to a buy rating in a report on Friday, February 16th. JMP Securities initiated coverage on Extreme Networks in a report on Wednesday, January 3rd. They set an outperform rating and a $16.00 price target on the stock. Cowen initiated coverage on Extreme Networks in a report on Wednesday, December 20th. They set an outperform rating and a $16.00 price target on the stock. DA Davidson raised their price target on Extreme Networks from $16.00 to $17.00 and gave the company a buy rating in a report on Wednesday, February 7th. Finally, Needham & Company LLC raised their price target on Extreme Networks from $14.85 to $15.50 and gave the company a buy rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $15.92.
Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $231.12 million for the quarter, compared to analyst estimates of $241.49 million. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. The company’s quarterly revenue was up 47.8% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. equities research analysts expect that Extreme Networks will post 0.52 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Moloney Securities Asset Management LLC boosted its stake in Extreme Networks by 220.5% during the fourth quarter. Moloney Securities Asset Management LLC now owns 78,100 shares of the technology company’s stock valued at $978,000 after buying an additional 53,732 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in Extreme Networks by 226.4% during the fourth quarter. Thompson Davis & CO. Inc. now owns 26,442 shares of the technology company’s stock valued at $331,000 after buying an additional 18,342 shares in the last quarter. Navellier & Associates Inc bought a new position in Extreme Networks during the fourth quarter valued at about $1,230,000. Granahan Investment Management Inc. MA boosted its stake in Extreme Networks by 27.9% during the third quarter. Granahan Investment Management Inc. MA now owns 652,929 shares of the technology company’s stock valued at $7,763,000 after buying an additional 142,443 shares in the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in Extreme Networks during the fourth quarter valued at about $146,000. 79.46% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This report was first posted by Ticker Report and is owned by of Ticker Report. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.tickerreport.com/banking-finance/3335657/extreme-networks-extr-upgraded-by-zacks-investment-research-to-buy.html.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Extreme Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extreme Networks and related companies with MarketBeat.com's FREE daily email newsletter.