Extreme Networks, Inc. (NASDAQ:EXTR) Receives $20.30 Consensus Price Target from Brokerages

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) has received a consensus rating of "Moderate Buy" from the five brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.30.

Several equities research analysts have commented on EXTR shares. 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. StockNews.com raised Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. Finally, Lake Street Capital boosted their target price on Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Thursday, January 30th.

Extreme Networks Stock Down 0.7 %

Shares of NASDAQ EXTR traded down $0.11 during mid-day trading on Wednesday, hitting $14.89. 1,655,403 shares of the stock traded hands, compared to its average volume of 1,408,794. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. Extreme Networks has a 52 week low of $10.50 and a 52 week high of $19.24. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -15.84, a PEG ratio of 3.06 and a beta of 1.72. The stock has a fifty day moving average price of $15.69 and a 200-day moving average price of $15.85.

Remove Ads

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released 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%. Research analysts anticipate that Extreme Networks will post 0.31 EPS for the current year.

Extreme Networks declared that its board has authorized a stock buyback program on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction on Monday, February 3rd. The stock was 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 in the company, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.70% of the company's stock.

Institutional Trading of Extreme Networks

A number of hedge funds have recently bought and sold shares of EXTR. KBC Group NV increased its position in Extreme Networks by 54.3% during the third quarter. KBC Group NV now owns 4,959 shares of the technology company's stock valued at $75,000 after acquiring an additional 1,745 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Extreme Networks by 2.2% in the third quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company's stock worth $1,065,000 after buying an additional 1,541 shares in the last quarter. Royce & Associates LP increased its position in Extreme Networks by 13.5% in the third quarter. Royce & Associates LP now owns 108,091 shares of the technology company's stock worth $1,625,000 after buying an additional 12,871 shares in the last quarter. Natixis Advisors LLC purchased a new stake in Extreme Networks in the third quarter worth about $224,000. Finally, TrinityPoint Wealth LLC purchased a new stake in Extreme Networks in the third quarter worth about $179,000. 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.