Extreme Networks (NASDAQ:EXTR) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.
A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, June 4th. Lake Street Capital started coverage on shares of Extreme Networks in a research report on Monday, July 29th. They set a “buy” rating and a $9.00 price objective for the company. Finally, BidaskClub raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.30.
Shares of NASDAQ:EXTR traded down $0.12 during mid-day trading on Thursday, reaching $8.25. 1,968,583 shares of the company were exchanged, compared to its average volume of 976,411. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.10 and a current ratio of 1.24. The company has a market cap of $966.67 million, a price-to-earnings ratio of 63.46 and a beta of 1.61. The company has a 50-day moving average price of $6.58. Extreme Networks has a 1 year low of $4.81 and a 1 year high of $9.08.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $252.40 million during the quarter, compared to analysts’ expectations of $244.72 million. Extreme Networks had a negative net margin of 2.60% and a positive return on equity of 10.98%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. On average, research analysts predict that Extreme Networks will post 0.39 earnings per share for the current year.
Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. boosted its position in Extreme Networks by 438.4% in the 1st quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock valued at $26,000 after buying an additional 2,823 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Extreme Networks in the 2nd quarter valued at approximately $27,000. Bailard Inc. purchased a new position in Extreme Networks in the 2nd quarter valued at approximately $68,000. Hennessy Advisors Inc. purchased a new position in Extreme Networks in the 2nd quarter valued at approximately $87,000. Finally, Penserra Capital Management LLC purchased a new position in Extreme Networks in the 1st quarter valued at approximately $110,000. 80.88% of the stock is owned by institutional investors.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
See Also: What is a back-end load?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Extreme Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extreme Networks and related companies with MarketBeat.com's FREE daily email newsletter.