Extreme Networks (NASDAQ:EXTR) Upgraded by StockNews.com to "Buy" Rating

Extreme Networks (NASDAQ:EXTR - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.

A number of other analysts have also recently weighed in on EXTR. Craig Hallum raised their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a report on Thursday. B. Riley raised their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday. Rosenblatt Securities boosted their target price 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 reaffirmed a "buy" rating and issued a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Extreme Networks Price Performance

Shares of EXTR stock traded up $0.16 during mid-day trading on Friday, hitting $15.09. 1,441,871 shares of the stock traded hands, compared to its average volume of 1,870,505. Extreme Networks has a twelve month low of $10.49 and a twelve month high of $18.77. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The company's 50-day simple moving average is $14.88 and its 200-day simple moving average is $13.29. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -15.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The firm had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. During the same period in the previous year, the firm earned $0.24 earnings per share. Extreme Networks's revenue was down 29.5% on a year-over-year basis. As a group, equities research analysts expect that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at $21,363,575.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company's stock, valued at approximately $21,363,575.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raj Khanna sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 228,733 shares of the company's stock, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,175 shares of company stock valued at $1,763,279. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Extreme Networks

Hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its holdings in Extreme Networks by 33.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 106,924 shares of the technology company's stock valued at $1,607,000 after purchasing an additional 26,553 shares during the period. Dash Acquisitions Inc. raised its position in shares of Extreme Networks by 55.9% during the third quarter. Dash Acquisitions Inc. now owns 20,986 shares of the technology company's stock valued at $301,000 after buying an additional 7,521 shares during the last quarter. Andina Capital Management LLC lifted its stake in shares of Extreme Networks by 4.1% in the third quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company's stock valued at $307,000 after buying an additional 795 shares during the period. Aquila Investment Management LLC bought a new position in Extreme Networks during the third quarter valued at about $962,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Extreme Networks by 134.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,700 shares of the technology company's stock valued at $176,000 after acquiring an additional 6,703 shares in the last quarter. 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.

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