Extreme Networks (NASDAQ:EXTR) Stock Rating Lowered by StockNews.com

Extreme Networks (NASDAQ:EXTR - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reiterated a "buy" rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. B. Riley upped their price target on Extreme Networks from $18.00 to $21.00 and gave the stock 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. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $21.00 price target on shares of Extreme Networks in a report on Wednesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Extreme Networks Trading Down 0.5 %

EXTR stock traded down $0.09 during mid-day trading on Friday, reaching $16.76. The company's stock had a trading volume of 1,616,802 shares, compared to its average volume of 1,280,567. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -17.28, a price-to-earnings-growth ratio of 3.58 and a beta of 1.77. The business's 50 day moving average price is $14.95 and its 200 day moving average price is $13.52. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $18.77.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). The firm had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The company's revenue was down 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS. On average, equities research analysts predict that Extreme Networks will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the business's stock in a transaction 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 owns 228,733 shares of the company's stock, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Edward Meyercord sold 35,725 shares of the company's 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raj Khanna sold 10,000 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were 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 $3,780,956.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,175 shares of company stock valued at $1,763,279. Insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EXTR. Victory Capital Management Inc. lifted its holdings in Extreme Networks by 318.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company's stock worth $67,124,000 after purchasing an additional 3,399,288 shares in the last quarter. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 2,191,181 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Extreme Networks during the 2nd quarter worth about $25,409,000. Rubric Capital Management LP lifted its holdings in Extreme Networks by 52.3% during 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 in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Extreme Networks by 265.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company's stock worth $9,839,000 after purchasing an additional 531,500 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

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.