Extreme Networks (NASDAQ:EXTR) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.
EXTR has been the subject of several other reports. ValuEngine cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. JMP Securities initiated coverage on Extreme Networks in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $16.00 price target for the company. Cowen initiated coverage on Extreme Networks in a report on Wednesday, December 20th. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Craig Hallum reissued a “buy” rating and issued a $17.00 price target (up from $12.50) on shares of Extreme Networks in a report on Wednesday, November 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $16.08.
Shares of Extreme Networks (EXTR) opened at $12.05 on Friday. Extreme Networks has a 1 year low of $6.00 and a 1 year high of $15.55. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.89 and a current ratio of 1.13. The firm has a market capitalization of $1,388.98, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.32.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $231.12 million during the quarter, compared to analysts’ expectations of $241.49 million. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. The company’s quarterly revenue was up 47.8% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. equities analysts predict that Extreme Networks will post 0.6 earnings per share for the current fiscal year.
In other news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total value of $138,100.00. Following the completion of the sale, the director now directly owns 99,523 shares of the company’s stock, valued at approximately $1,374,412.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of EXTR. TIAA CREF Investment Management LLC raised its holdings in Extreme Networks by 181.0% during the fourth quarter. TIAA CREF Investment Management LLC now owns 3,809,162 shares of the technology company’s stock worth $47,691,000 after purchasing an additional 2,453,458 shares during the last quarter. Copper Rock Capital Partners LLC acquired a new position in Extreme Networks during the fourth quarter worth $24,503,000. Allianz Asset Management GmbH raised its holdings in Extreme Networks by 811.5% during the fourth quarter. Allianz Asset Management GmbH now owns 933,210 shares of the technology company’s stock worth $11,684,000 after purchasing an additional 830,833 shares during the last quarter. Vanguard Group Inc. raised its holdings in Extreme Networks by 11.5% during the second quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock worth $74,138,000 after purchasing an additional 830,103 shares during the last quarter. Finally, FMR LLC raised its holdings in Extreme Networks by 57.9% during the second quarter. FMR LLC now owns 2,130,799 shares of the technology company’s stock worth $19,647,000 after purchasing an additional 781,130 shares during the last quarter. 82.00% of the stock is owned by hedge funds and other institutional investors.
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Extreme Networks Company Profile
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.
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