DA Davidson Weighs in on Extreme Networks, Inc.’s Q3 2018 Earnings (EXTR)

Extreme Networks, Inc. (NASDAQ:EXTR) – Stock analysts at DA Davidson upped their Q3 2018 EPS estimates for Extreme Networks in a research note issued on Wednesday. DA Davidson analyst M. Kelleher now forecasts that the technology company will post earnings of $0.14 per share for the quarter, up from their prior estimate of $0.13. DA Davidson also issued estimates for Extreme Networks’ FY2018 earnings at $0.52 EPS, Q1 2019 earnings at $0.15 EPS and Q4 2019 earnings at $0.27 EPS.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC lifted their target price on shares of Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, August 15th. ValuEngine raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Friday, August 18th. Craig Hallum reissued a “buy” rating and set a $17.00 price objective (up previously from $12.50) on shares of Extreme Networks in a research note on Wednesday. Finally, BidaskClub raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Extreme Networks presently has an average rating of “Buy” and an average price target of $13.25.

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Shares of Extreme Networks (NASDAQ:EXTR) opened at $11.24 on Friday. The firm has a market cap of $1,274.84, a PE ratio of 26.14, a PEG ratio of 1.28 and a beta of 1.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.09 and a current ratio of 1.27. Extreme Networks has a 52 week low of $4.17 and a 52 week high of $13.20.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $211.72 million for the quarter, compared to analyst estimates of $203.86 million. Extreme Networks had a net margin of 0.34% and a return on equity of 51.82%. The company’s revenue for the quarter was up 72.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS.

A number of institutional investors have recently modified their holdings of EXTR. PNC Financial Services Group Inc. purchased a new position in Extreme Networks in the second quarter worth about $101,000. BlueCrest Capital Management Ltd purchased a new position in shares of Extreme Networks during the second quarter valued at approximately $116,000. SG Americas Securities LLC purchased a new position in shares of Extreme Networks during the third quarter valued at approximately $116,000. Ameritas Investment Partners Inc. raised its holdings in shares of Extreme Networks by 13.0% during the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock valued at $124,000 after purchasing an additional 1,565 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Extreme Networks by 10.9% during the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,378 shares during the last quarter. 80.05% of the stock is owned by institutional investors and hedge funds.

In other Extreme Networks news, insider Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $10.52, for a total value of $1,052,000.00. Following the completion of the transaction, the insider now directly owns 471,653 shares of the company’s stock, valued at $4,961,789.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen M. Holmgren bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was purchased at an average cost of $11.49 per share, with a total value of $57,450.00. Following the completion of the acquisition, the director now directly owns 36,662 shares of the company’s stock, valued at approximately $421,246.38. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

About Extreme Networks

Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.

Earnings History and Estimates for Extreme Networks (NASDAQ:EXTR)

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