StockNews.com Downgrades Extreme Networks (NASDAQ:EXTR) to Hold

Extreme Networks (NASDAQ:EXTR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other research analysts have also issued reports on the stock. B. Riley upped their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Craig Hallum upped their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 target price on shares of Extreme Networks in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Trading Down 0.5 %

Shares of NASDAQ EXTR opened at $16.76 on Friday. Extreme Networks has a twelve month low of $10.49 and a twelve month high of $18.77. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The stock has a fifty day simple moving average of $14.95 and a 200-day simple moving average of $13.50. The stock has a market capitalization of $2.21 billion, a PE ratio of -17.28, a PEG ratio of 3.51 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The firm had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. On average, equities analysts forecast that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 117,175 shares of company stock worth $1,763,279. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new position in shares of Extreme Networks during the first quarter valued at approximately $27,000. GAMMA Investing LLC grew its position in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,035 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Extreme Networks by 1,635.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after buying an additional 4,709 shares during the period. KBC Group NV boosted its holdings in Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after buying an additional 1,745 shares during the period. Finally, Gladius Capital Management LP purchased a new stake in Extreme Networks in the 2nd quarter worth $90,000. 91.05% of the stock is owned by institutional investors.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
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.