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

Shares of Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) have received a consensus rating of "Moderate Buy" from the five analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $20.30.

A number of research firms recently commented on EXTR. Lake Street Capital increased their target price on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. B. Riley increased their target price on Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $22.00 price target on shares of Extreme Networks in a research note on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th.

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Extreme Networks Stock Performance

Shares of NASDAQ:EXTR traded up $0.03 during midday trading on Friday, reaching $15.15. 708,860 shares of the company traded hands, compared to its average volume of 1,015,013. The firm's fifty day moving average price is $16.63 and its two-hundred day moving average price is $15.87. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -16.12, a price-to-earnings-growth ratio of 3.06 and a beta of 1.73. 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 has a 12 month low of $10.49 and a 12 month high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. On average, equities analysts expect that Extreme Networks will post 0.31 earnings per share for the current year.

Extreme Networks announced that its board has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of the firm'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 completion of the sale, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Extreme Networks

Hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue grew its holdings in shares of Extreme Networks by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company's stock worth $1,257,000 after acquiring an additional 717 shares during the period. Quarry LP boosted its position in Extreme Networks by 42.1% in the fourth quarter. Quarry LP now owns 2,426 shares of the technology company's stock worth $41,000 after purchasing an additional 719 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock valued at $52,000 after purchasing an additional 741 shares during the period. Ironwood Investment Management LLC increased its position in shares of Extreme Networks by 0.7% during the 4th quarter. Ironwood Investment Management LLC now owns 107,741 shares of the technology company's stock valued at $1,804,000 after purchasing an additional 782 shares during the last quarter. Finally, Andina Capital Management LLC lifted its stake in shares of Extreme Networks by 4.1% in the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company's stock worth $307,000 after purchasing an additional 795 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

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.