Extreme Networks’ (EXTR) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research note published on Wednesday, Benzinga reports. They currently have a $21.00 price target on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Craig Hallum boosted their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. B. Riley raised their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Trading Up 7.5 %

EXTR stock opened at $16.45 on Wednesday. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $18.77. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The firm has a market cap of $2.17 billion, a P/E ratio of -16.96, a PEG ratio of 3.51 and a beta of 1.77. The company’s 50-day simple moving average is $14.91 and its 200-day simple moving average is $13.43.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The business had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 EPS. As a group, equities analysts forecast that Extreme Networks will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,363,575.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,363,575.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,175 shares of company stock worth $1,763,279. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in shares of Extreme Networks by 101.8% in the 1st quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock valued at $5,051,000 after acquiring an additional 220,763 shares during the period. Gallacher Capital Management LLC raised its position in Extreme Networks by 20.8% in the first quarter. Gallacher Capital Management LLC now owns 17,590 shares of the technology company’s stock valued at $203,000 after purchasing an additional 3,031 shares during the period. Duality Advisers LP lifted its stake in Extreme Networks by 355.3% during the first quarter. Duality Advisers LP now owns 241,397 shares of the technology company’s stock worth $2,786,000 after purchasing an additional 188,372 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Extreme Networks by 33.1% during the first quarter. SG Americas Securities LLC now owns 44,586 shares of the technology company’s stock worth $515,000 after buying an additional 11,077 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Extreme Networks by 3.1% in the first quarter. Illinois Municipal Retirement Fund now owns 77,836 shares of the technology company’s stock valued at $898,000 after buying an additional 2,375 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
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.