Brokerages Set Extreme Networks, Inc. (NASDAQ:EXTR) Target Price at $20.30

Extreme Networks, Inc. (NASDAQ:EXTR) has received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $20.30.

Several analysts have commented on EXTR shares. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Lake Street Capital lifted their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a research report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, January 30th.

Extreme Networks Stock Up 0.2 %

Extreme Networks stock opened at $15.45 on Friday. Extreme Networks has a fifty-two week low of $10.50 and a fifty-two week high of $19.24. The stock has a market cap of $2.05 billion, a PE ratio of -16.44, a price-to-earnings-growth ratio of 3.06 and a beta of 1.73. The firm’s 50-day simple moving average is $16.48 and its 200 day simple moving average is $15.87. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results 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 return on equity of 110.86% and a negative net margin of 11.98%. Research analysts predict that Extreme Networks will post 0.31 EPS for the current fiscal year.

Extreme Networks announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Trading of Extreme Networks

Several hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue increased its holdings in Extreme Networks by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock worth $1,257,000 after acquiring an additional 717 shares during the period. Quarry LP increased its holdings in Extreme Networks by 42.1% during the 4th quarter. Quarry LP now owns 2,426 shares of the technology company’s stock worth $41,000 after acquiring an additional 719 shares during the period. Pacer Advisors Inc. increased its holdings in Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after acquiring an additional 741 shares during the period. Ironwood Investment Management LLC increased its holdings in Extreme Networks by 0.7% during the 4th quarter. Ironwood Investment Management LLC now owns 107,741 shares of the technology company’s stock worth $1,804,000 after acquiring an additional 782 shares during the period. Finally, Andina Capital Management LLC increased its holdings in Extreme Networks by 4.1% during the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock worth $307,000 after acquiring an additional 795 shares during the period. 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.