Extreme Networks' (EXTR) "Buy" Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Extreme Networks (NASDAQ:EXTR - Free Report) in a research report report published on Friday morning,Benzinga reports. They currently have a $22.00 price target on the technology company's stock.

A number of other equities research analysts have also recently issued reports on EXTR. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th. B. Riley lifted their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Craig Hallum boosted their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Lake Street Capital boosted their price objective on Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.

Extreme Networks Stock Up 0.4 %

Shares of NASDAQ EXTR traded up $0.06 during mid-day trading on Friday, reaching $15.59. The company had a trading volume of 224,443 shares, compared to its average volume of 969,643. The stock has a fifty day moving average of $17.07 and a two-hundred day moving average of $15.69. Extreme Networks has a 12-month low of $10.49 and a 12-month high of $19.24. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -16.58, a PEG ratio of 2.99 and a beta of 1.73. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its 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 return on equity of 110.86% and a negative net margin of 11.98%. As a group, equities research analysts expect that Extreme Networks will post 0.31 EPS for the current year.

Insider Buying and Selling

In other news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction that occurred 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 directly owns 366,793 shares of the company's stock, valued at approximately $6,125,443.10. This represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the sale, the chief executive officer now directly owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,725 shares of company stock valued at $713,608 over the last three months. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EXTR. Fox Run Management L.L.C. bought a new position in shares of Extreme Networks in the fourth quarter valued at approximately $1,616,000. KLP Kapitalforvaltning AS acquired a new position in Extreme Networks in the fourth quarter worth $455,000. AXQ Capital LP bought a new stake in shares of Extreme Networks during the fourth quarter worth $176,000. Sei Investments Co. increased its stake in shares of Extreme Networks by 187.5% in the fourth quarter. Sei Investments Co. now owns 37,370 shares of the technology company's stock valued at $626,000 after buying an additional 24,370 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Extreme Networks by 11.4% in the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock valued at $47,494,000 after buying an additional 290,184 shares during the last quarter. 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.