ValuEngine upgraded shares of Extreme Networks (NASDAQ:EXTR) from a strong sell rating to a sell rating in a research note issued to investors on Thursday morning.
A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Extreme Networks from a buy rating to a hold rating in a research report on Friday, May 11th. BidaskClub raised shares of Extreme Networks from a sell rating to a hold rating in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Extreme Networks currently has an average rating of Buy and a consensus price target of $16.08.
Extreme Networks opened at $9.18 on Thursday, according to MarketBeat Ratings. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.29 and a beta of 1.62. Extreme Networks has a 12-month low of $8.10 and a 12-month high of $15.55.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Tuesday, May 8th. The technology company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). Extreme Networks had a negative net margin of 3.28% and a positive return on equity of 43.61%. The firm had revenue of $262.00 million during the quarter, compared to the consensus estimate of $268.32 million. During the same period in the prior year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 75.6% compared to the same quarter last year. analysts anticipate that Extreme Networks will post 0.42 EPS for the current fiscal year.
In related news, insider Edward Meyercord bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average price of $8.42 per share, with a total value of $168,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward H. Kennedy bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The shares were bought at an average cost of $9.03 per share, for a total transaction of $451,500.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 140,000 shares of company stock worth $1,218,900. Insiders own 1.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System increased its position in Extreme Networks by 1.4% during the fourth quarter. California Public Employees Retirement System now owns 350,812 shares of the technology company’s stock worth $4,392,000 after acquiring an additional 4,800 shares during the period. Chicago Equity Partners LLC increased its position in Extreme Networks by 2.6% during the fourth quarter. Chicago Equity Partners LLC now owns 203,565 shares of the technology company’s stock worth $2,549,000 after acquiring an additional 5,170 shares during the period. Swiss National Bank increased its position in Extreme Networks by 3.5% during the fourth quarter. Swiss National Bank now owns 187,700 shares of the technology company’s stock worth $2,350,000 after acquiring an additional 6,400 shares during the period. Advisor Group Inc. increased its position in Extreme Networks by 35.2% during the fourth quarter. Advisor Group Inc. now owns 31,759 shares of the technology company’s stock worth $398,000 after acquiring an additional 8,269 shares during the period. Finally, Riverhead Capital Management LLC bought a new position in Extreme Networks during the first quarter worth $106,000. 87.00% of the stock is currently owned by institutional investors and hedge funds.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. 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.
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