Extreme Networks (NASDAQ:EXTR) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Thursday, March 15th. ValuEngine raised shares of Extreme Networks from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $16.08.
Extreme Networks opened at $8.59 on Thursday, according to MarketBeat Ratings. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 1.21 and a beta of 1.54. Extreme Networks has a fifty-two week low of $8.10 and a fifty-two week high of $15.55. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.36.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Tuesday, May 8th. The technology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.05). The company had revenue of $262.00 million for the quarter, compared to the consensus estimate of $268.32 million. Extreme Networks had a positive return on equity of 43.61% and a negative net margin of 3.28%. The business’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. sell-side analysts predict that Extreme Networks will post 0.42 earnings per share for the current year.
In other Extreme Networks news, Director Raj Khanna purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 24th. The shares were bought at an average price of $8.96 per share, for a total transaction of $89,600.00. Following the completion of the acquisition, the director now owns 109,523 shares in the company, valued at $981,326.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Shoemaker purchased 20,000 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were acquired at an average price of $8.40 per share, for a total transaction of $168,000.00. Following the acquisition, the director now owns 62,920 shares of the company’s stock, valued at approximately $528,528. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 150,000 shares of company stock worth $1,308,500. 1.90% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Allianz Asset Management GmbH lifted its holdings in shares of Extreme Networks by 31.0% during the first quarter. Allianz Asset Management GmbH now owns 1,222,780 shares of the technology company’s stock worth $13,537,000 after purchasing an additional 289,570 shares during the period. Wexford Capital LP acquired a new position in Extreme Networks in the first quarter valued at $2,214,000. Navellier & Associates Inc acquired a new position in Extreme Networks in the fourth quarter valued at $1,230,000. MetLife Investment Advisors LLC acquired a new position in Extreme Networks in the fourth quarter valued at $631,000. Finally, Advisor Group Inc. lifted its holdings in Extreme Networks by 35.2% in the fourth quarter. Advisor Group Inc. now owns 31,759 shares of the technology company’s stock valued at $398,000 after buying an additional 8,269 shares during the period. Institutional investors own 86.98% of the company’s stock.
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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