Extreme Networks, Inc. (NASDAQ:EXTR) – DA Davidson issued their Q1 2018 earnings estimates for Extreme Networks in a report issued on Tuesday. DA Davidson analyst M. Kelleher anticipates that the technology company will post earnings per share of $0.12 for the quarter. DA Davidson also issued estimates for Extreme Networks’ Q2 2018 earnings at $0.10 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.16 EPS, FY2018 earnings at $0.50 EPS, Q1 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.19 EPS and FY2019 earnings at $0.71 EPS.
A number of other research firms also recently issued reports on EXTR. BidaskClub raised Extreme Networks from a “sell” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $12.50 price target (up previously from $9.50) on shares of Extreme Networks in a research report on Friday, June 2nd. Finally, Zacks Investment Research downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Extreme Networks has an average rating of “Buy” and an average target price of $8.20.
Extreme Networks (NASDAQ:EXTR) traded down 0.47% on Friday, hitting $10.50. 417,625 shares of the company were exchanged. Extreme Networks has a 52-week low of $3.75 and a 52-week high of $11.03. The stock’s market capitalization is $1.16 billion. The stock’s 50-day moving average price is $9.31 and its 200-day moving average price is $8.14.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Extreme Networks had a negative net margin of 1.42% and a positive return on equity of 43.34%. The business had revenue of $178.70 million during the quarter, compared to analysts’ expectations of $171.96 million. During the same period last year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year.
Several large investors have recently modified their holdings of EXTR. Swiss National Bank increased its stake in shares of Extreme Networks by 9.3% in the first quarter. Swiss National Bank now owns 172,700 shares of the technology company’s stock valued at $1,297,000 after buying an additional 14,700 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Extreme Networks by 75.7% in the first quarter. Bank of New York Mellon Corp now owns 761,018 shares of the technology company’s stock valued at $5,716,000 after buying an additional 327,790 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Extreme Networks by 64.1% in the first quarter. Wells Fargo & Company MN now owns 508,152 shares of the technology company’s stock valued at $3,816,000 after buying an additional 198,447 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Extreme Networks during the first quarter valued at $1,706,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Extreme Networks during the first quarter valued at $5,159,000. 80.44% of the stock is owned by institutional investors.
In other news, insider Edward Meyercord sold 65,000 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $10.10, for a total value of $656,500.00. Following the completion of the sale, the insider now owns 563,034 shares of the company’s stock, valued at $5,686,643.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.91% of the stock is owned by corporate insiders.
Extreme Networks Company Profile
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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