Analysts Set Extreme Networks, Inc. (NASDAQ:EXTR) Target Price at $20.30

Shares of Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $20.30.

EXTR has been the subject of a number of research reports. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Needham & Company LLC reiterated a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. Rosenblatt Securities reissued a "buy" rating and issued a $22.00 target price on shares of Extreme Networks in a report on Friday, February 7th. Finally, Lake Street Capital boosted their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the transaction, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.70% of the company's stock.

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Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EXTR. Barclays PLC lifted its position in Extreme Networks by 369.8% during the third quarter. Barclays PLC now owns 217,875 shares of the technology company's stock worth $3,274,000 after buying an additional 171,500 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of Extreme Networks during the 4th quarter valued at about $2,599,000. Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock worth $299,965,000 after acquiring an additional 690,262 shares during the period. Legato Capital Management LLC boosted its position in shares of Extreme Networks by 225.2% in the fourth quarter. Legato Capital Management LLC now owns 107,948 shares of the technology company's stock worth $1,807,000 after acquiring an additional 74,758 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Extreme Networks by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 642,531 shares of the technology company's stock worth $10,756,000 after acquiring an additional 26,853 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Extreme Networks Price Performance

Shares of Extreme Networks stock traded down $0.10 during trading on Friday, reaching $11.75. The company's stock had a trading volume of 677,062 shares, compared to its average volume of 1,479,083. The business has a 50 day moving average price of $14.29 and a 200-day moving average price of $15.62. Extreme Networks has a 12-month low of $10.10 and a 12-month high of $19.24. The company has a market capitalization of $1.56 billion, a P/E ratio of -12.50, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. As a group, sell-side analysts anticipate that Extreme Networks will post 0.31 EPS for the current year.

Extreme Networks announced that its board has approved a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Extreme Networks Company Profile

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.