Extreme Networks (EXTR) Raised to C at TheStreet

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TheStreet upgraded shares of Extreme Networks (NASDAQ:EXTR) from a d+ rating to a c rating in a report issued on Tuesday.

EXTR has been the topic of several other reports. Zacks Investment Research upgraded Extreme Networks from a hold rating to a buy rating and set a $7.50 target price on the stock in a report on Tuesday. ValuEngine lowered Extreme Networks from a hold rating to a sell rating in a report on Friday, December 21st. DA Davidson set a $13.00 target price on Extreme Networks and gave the stock a buy rating in a report on Monday, January 14th. Finally, BidaskClub upgraded Extreme Networks from a hold rating to a buy rating in a report on Wednesday, November 7th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $10.30.

NASDAQ:EXTR opened at $7.56 on Tuesday. Extreme Networks has a 12-month low of $4.81 and a 12-month high of $15.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.06 and a current ratio of 1.23. The firm has a market capitalization of $875.72 million, a PE ratio of 17.18, a P/E/G ratio of 1.50 and a beta of 0.83.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Tuesday, January 29th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. Extreme Networks had a positive return on equity of 36.26% and a negative net margin of 2.04%. The business had revenue of $252.70 million for the quarter, compared to analyst estimates of $244.45 million. During the same period last year, the company earned $0.14 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Analysts forecast that Extreme Networks will post 0.33 EPS for the current fiscal year.

In other news, insider Edward Meyercord sold 99,859 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $6.34, for a total value of $633,106.06. Following the sale, the insider now directly owns 554,840 shares in the company, valued at $3,517,685.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.45% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Extreme Networks by 2.6% in the third quarter. BlackRock Inc. now owns 16,383,752 shares of the technology company’s stock valued at $89,782,000 after purchasing an additional 420,188 shares in the last quarter. FMR LLC lifted its holdings in shares of Extreme Networks by 4.3% in the third quarter. FMR LLC now owns 3,526,720 shares of the technology company’s stock valued at $19,326,000 after purchasing an additional 145,520 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Extreme Networks by 62.0% in the third quarter. Alliancebernstein L.P. now owns 3,047,897 shares of the technology company’s stock valued at $16,702,000 after purchasing an additional 1,166,520 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Extreme Networks in the third quarter valued at about $9,922,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Extreme Networks in the third quarter valued at about $8,768,000. Institutional investors own 80.57% of the company’s stock.

About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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