Extreme Networks (NASDAQ:EXTR) Earns Buy Rating from Rosenblatt Securities

Extreme Networks (NASDAQ:EXTR - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Rosenblatt Securities in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $21.00 target price on the technology company's stock. Rosenblatt Securities' target price would indicate a potential upside of 27.66% from the company's current price.

EXTR has been the topic of a number of other research reports. StockNews.com raised shares of Extreme Networks from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Craig Hallum upped their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research note on Thursday, October 31st. B. Riley upped their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Extreme Networks currently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR traded up $1.15 during midday trading on Wednesday, reaching $16.45. 2,605,605 shares of the company were exchanged, compared to its average volume of 1,868,199. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The business's fifty day moving average is $14.89 and its two-hundred day moving average is $13.41. Extreme Networks has a one year low of $10.49 and a one year high of $18.77. The stock has a market cap of $2.17 billion, a PE ratio of -15.77, a price-to-earnings-growth ratio of 3.48 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly 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). The business had revenue of $256.65 million for the quarter, compared to analysts' expectations of $253.21 million. Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. Extreme Networks's revenue for the quarter was down 29.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. As a group, analysts predict that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total value of $536,589.50. Following the sale, the chief executive officer now owns 1,448,378 shares of the company's stock, valued at approximately $21,754,637.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total value of $536,589.50. Following the transaction, the chief executive officer now owns 1,448,378 shares of the company's stock, valued at $21,754,637.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of 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. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its stake in Extreme Networks by 13.5% in the 3rd quarter. Royce & Associates LP now owns 108,091 shares of the technology company's stock worth $1,625,000 after buying an additional 12,871 shares during the period. OneDigital Investment Advisors LLC grew its holdings in Extreme Networks by 2.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company's stock worth $1,065,000 after acquiring an additional 1,541 shares in the last quarter. Brooktree Capital Management grew its holdings in Extreme Networks by 1.5% during the 3rd quarter. Brooktree Capital Management now owns 179,448 shares of the technology company's stock worth $2,697,000 after acquiring an additional 2,569 shares in the last quarter. KBC Group NV boosted its holdings in shares of Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company's stock valued at $75,000 after buying an additional 1,745 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of 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 valued at $67,124,000 after buying an additional 3,399,288 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.