Rosenblatt Securities Reiterates “Buy” Rating for Extreme Networks (NASDAQ:EXTR)

Extreme Networks (NASDAQ:EXTR)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a research note issued on Friday,Benzinga reports. They currently have a $22.00 price target on the technology company’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 42.03% from the stock’s previous close.

A number of other brokerages have also recently commented on EXTR. B. Riley upped their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Lake Street Capital increased their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, January 30th. Craig Hallum increased their price objective 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. Finally, StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.30.

Extreme Networks Stock Down 1.9 %

EXTR opened at $15.49 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The firm has a 50 day moving average price of $17.11 and a 200-day moving average price of $15.65. Extreme Networks has a twelve month low of $10.49 and a twelve month high of $19.24. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -16.48, a PEG ratio of 3.44 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share 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 110.86%. Equities research analysts forecast that Extreme Networks will post 0.27 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the sale, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Carinalli sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the sale, the director now owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,725 shares of company stock worth $713,608 over the last 90 days. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EXTR. Quarry LP purchased a new position in Extreme Networks in the 3rd quarter worth about $26,000. GAMMA Investing LLC increased its stake in Extreme Networks by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after buying an additional 1,035 shares during the period. Byrne Asset Management LLC purchased a new position in Extreme Networks in the 4th quarter worth about $30,000. Smartleaf Asset Management LLC increased its stake in Extreme Networks by 385.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock worth $37,000 after buying an additional 1,733 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after buying an additional 741 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.