Brokerages Set Extreme Networks, Inc. (NASDAQ:EXTR) Target Price at $15.90

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.90.

Several equities analysts recently issued reports on EXTR shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum boosted their price target on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $14.62 on Friday. Extreme Networks has a 1 year low of $10.49 and a 1 year high of $21.19. The firm’s 50-day moving average is $14.89 and its 200 day moving average is $13.15. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -208.86, a PEG ratio of 3.56 and a beta of 1.76. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.90 and a quick ratio of 0.63.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. During the same quarter in the prior year, the company posted $0.24 EPS. The company’s quarterly revenue was down 29.5% on a year-over-year basis. Sell-side analysts anticipate that Extreme Networks will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Extreme Networks

A number of large investors have recently made changes to their positions in EXTR. Vanguard Group Inc. boosted its stake in shares of Extreme Networks by 16.9% during the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after acquiring an additional 2,191,181 shares during the last quarter. Rubric Capital Management LP raised its holdings in Extreme Networks by 52.3% in the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after purchasing an additional 1,804,744 shares during the period. William Blair Investment Management LLC purchased a new position in Extreme Networks during the second quarter valued at $25,409,000. Victory Capital Management Inc. grew its holdings in Extreme Networks by 373.4% during the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock valued at $14,348,000 after purchasing an additional 841,395 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Extreme Networks by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock worth $14,192,000 after buying an additional 3,572 shares in the last quarter. 91.05% of the stock is currently 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.