Extreme Networks (NASDAQ:EXTR) Given New $21.00 Price Target at B. Riley

Extreme Networks (NASDAQ:EXTR - Free Report) had its target price boosted by B. Riley from $18.00 to $21.00 in a report released on Thursday morning, Benzinga reports. B. Riley currently has a buy rating on the technology company's stock.

EXTR has been the topic of a number of other research reports. Craig Hallum raised their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a research report on Thursday. Rosenblatt Securities raised their price target on Extreme Networks from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Needham & Company LLC restated a "buy" rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Extreme Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Extreme Networks Stock Performance

EXTR stock traded down $0.99 during trading hours on Thursday, hitting $14.93. 2,197,497 shares of the stock were exchanged, compared to its average volume of 1,872,536. The company has a current ratio of 0.90, a quick ratio of 0.63 and a debt-to-equity ratio of 7.05. The firm has a market capitalization of $1.97 billion, a P/E ratio of -15.39, a P/E/G ratio of 3.37 and a beta of 1.76. The company has a 50-day simple moving average of $14.88 and a two-hundred day simple moving average of $13.28. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $20.83.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share 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 return on equity of 24.51% and a negative net margin of 7.69%. The firm's quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. On average, analysts forecast that Extreme Networks will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the sale, the chief executive officer now directly owns 1,448,378 shares of the company's stock, valued at $21,363,575.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Extreme Networks

Several large investors have recently bought and sold shares of EXTR. Acadian Asset Management LLC acquired a new stake in shares of Extreme Networks during the first quarter valued at about $27,000. GAMMA Investing LLC boosted its stake in shares of Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company's stock valued at $30,000 after purchasing an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Extreme Networks by 1,635.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company's stock valued at $67,000 after purchasing an additional 4,709 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Extreme Networks during the second quarter valued at about $90,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Extreme Networks during the second quarter valued at about $148,000. 91.05% of the stock is owned by institutional investors and hedge funds.

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.