Extreme Networks (NASDAQ:EXTR) Price Target Raised to $16.00 at Lake Street Capital

Extreme Networks (NASDAQ:EXTR - Get Free Report) had its price objective increased by investment analysts at Lake Street Capital from $15.00 to $16.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the technology company's stock. Lake Street Capital's target price indicates a potential upside of 5.12% from the company's previous close.

A number of other equities research analysts also recently weighed in on EXTR. Craig Hallum raised their price target on Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research report on Thursday, October 31st. StockNews.com upgraded Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a report on Thursday. B. Riley increased their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Rosenblatt Securities lifted their target price on Extreme Networks from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Extreme Networks has an average rating of "Moderate Buy" and a consensus price target of $20.30.

Extreme Networks Price Performance

Shares of EXTR stock traded down $0.59 on Thursday, hitting $15.22. 1,259,560 shares of the company's stock were exchanged, compared to its average volume of 1,008,589. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $19.24. The stock has a market cap of $2.02 billion, a P/E ratio of -16.19, a price-to-earnings-growth ratio of 3.44 and a beta of 1.73. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The company has a 50 day moving average of $17.18 and a 200 day moving average of $15.63.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) 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 research analysts predict that Extreme Networks will post 0.27 EPS for the current year.

Insider Activity at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the transaction, the director now owns 366,793 shares of the company's stock, valued at approximately $6,125,443.10. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Extreme Networks

Several institutional investors have recently made changes to their positions in EXTR. Victory Capital Management Inc. grew its position in Extreme Networks by 318.7% in 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 during the last quarter. Portolan Capital Management LLC lifted its position in Extreme Networks by 194.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock worth $15,944,000 after buying an additional 700,724 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Extreme Networks by 1,639.7% in the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock valued at $10,474,000 after purchasing an additional 589,713 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Extreme Networks by 265.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company's stock valued at $9,839,000 after buying an additional 531,500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Extreme Networks by 57.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company's stock worth $11,097,000 after purchasing an additional 269,459 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.