Rosenblatt Securities Issues Positive Forecast for Extreme Networks (NASDAQ:EXTR) Stock Price

Extreme Networks (NASDAQ:EXTR - Get Free Report) had its price objective lifted by equities researchers at Rosenblatt Securities from $21.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Rosenblatt Securities' target price suggests a potential upside of 39.15% from the stock's previous close.

Several other research analysts also recently commented on the stock. B. Riley raised their price target 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. Craig Hallum lifted their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.30.

Extreme Networks Stock Performance

Shares of NASDAQ:EXTR traded up $0.21 during midday trading on Thursday, reaching $15.81. 1,307,520 shares of the company traded hands, compared to its average volume of 831,524. The firm's fifty day moving average price is $17.18 and its two-hundred day moving average price is $15.63. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -16.82, a price-to-earnings-growth ratio of 3.44 and a beta of 1.75. The company has a quick ratio of 0.63, a current ratio of 0.91 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 $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 117.77%. On average, equities analysts expect that Extreme Networks will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Charles Carinalli sold 5,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total value of $80,300.00. Following the completion of the sale, the director now owns 371,793 shares in the company, valued at $5,970,995.58. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in shares of 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 valued at $67,124,000 after purchasing an additional 3,399,288 shares during the last quarter. Portolan Capital Management LLC grew its stake in shares of Extreme Networks by 194.6% during the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock valued at $15,944,000 after buying an additional 700,724 shares during 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 worth $10,474,000 after buying an additional 589,713 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of 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 acquiring an additional 531,500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Extreme Networks by 57.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company's stock valued at $11,097,000 after acquiring an additional 269,459 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

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.