Extreme Networks (NASDAQ:EXTR) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Extreme Networks (NASDAQ:EXTR) had its target price hoisted by Rosenblatt Securities from $21.00 to $22.00 in a research note issued to investors on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the technology company’s stock.

EXTR has been the topic of several other reports. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. B. Riley boosted their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Craig Hallum raised their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price of $19.25.

Extreme Networks Price Performance

Shares of EXTR stock opened at $15.60 on Thursday. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $19.24. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The stock has a 50 day moving average of $17.19 and a 200-day moving average of $15.59.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 117.77%. Research analysts predict that Extreme Networks will post 0.27 EPS for the current year.

Insider Activity

In related news, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the transaction, the director now directly owns 366,793 shares of the company’s stock, valued at $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Extreme Networks

Institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of Extreme Networks by 1.0% during the third quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock worth $77,164,000 after acquiring an additional 49,905 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Extreme Networks by 318.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after purchasing an additional 3,399,288 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Extreme Networks by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock valued at $17,429,000 after purchasing an additional 8,169 shares during the period. Portolan Capital Management LLC lifted its position in Extreme Networks by 194.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after purchasing an additional 700,724 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Extreme Networks by 42.9% in the 2nd quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock valued at $11,507,000 after purchasing an additional 256,765 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

Extreme Networks Company Profile

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.