Brokerages Set Extreme Networks, Inc (EXTR) Target Price at $9.50

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Extreme Networks, Inc (NASDAQ:EXTR) has earned an average recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $9.50.

A number of equities analysts recently commented on EXTR shares. Zacks Investment Research cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, January 28th. TheStreet upgraded Extreme Networks from a “d+” rating to a “c” rating in a report on Tuesday, January 29th. Finally, BidaskClub cut Extreme Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st.

Shares of Extreme Networks stock opened at $5.89 on Thursday. Extreme Networks has a 12 month low of $4.81 and a 12 month high of $9.35. The stock has a market cap of $699.47 million, a P/E ratio of 13.39, a PEG ratio of 5.16 and a beta of 1.24. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.29 and a quick ratio of 1.10.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Extreme Networks had a positive return on equity of 26.15% and a negative net margin of 1.41%. The company had revenue of $250.90 million during the quarter, compared to analysts’ expectations of $253.49 million. During the same period last year, the business posted $0.16 EPS. Extreme Networks’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities analysts expect that Extreme Networks will post 0.09 EPS for the current fiscal year.

In other news, insider Edward Meyercord sold 50,000 shares of Extreme Networks stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $7.67, for a total value of $383,500.00. Following the completion of the transaction, the insider now owns 482,692 shares in the company, valued at approximately $3,702,247.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.45% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in EXTR. Renaissance Technologies LLC boosted its stake in shares of Extreme Networks by 209.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,546,063 shares of the technology company’s stock valued at $19,070,000 after buying an additional 1,724,502 shares during the period. Millennium Management LLC boosted its stake in shares of Extreme Networks by 109.0% in the 4th quarter. Millennium Management LLC now owns 2,281,026 shares of the technology company’s stock valued at $13,914,000 after buying an additional 1,189,409 shares during the period. Morgan Stanley boosted its stake in shares of Extreme Networks by 210.0% in the 1st quarter. Morgan Stanley now owns 1,741,304 shares of the technology company’s stock valued at $13,043,000 after buying an additional 1,179,634 shares during the period. Keeley Teton Advisors LLC purchased a new position in shares of Extreme Networks in the 4th quarter valued at about $6,799,000. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Extreme Networks by 87.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,496,204 shares of the technology company’s stock valued at $9,127,000 after buying an additional 699,754 shares during the period. Institutional investors and hedge funds own 79.76% of the company’s stock.

Extreme Networks Company Profile

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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