Brokerages Set Extreme Networks, Inc. (EXTR) Price Target at $13.33

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have received a consensus recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $13.33.

Several equities research analysts have weighed in on EXTR shares. BidaskClub downgraded shares of Extreme Networks from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Needham & Company LLC lifted their price objective on shares of Extreme Networks from $12.50 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, August 18th. ValuEngine upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Craig Hallum reiterated a “buy” rating and set a $17.00 price objective (up from $12.50) on shares of Extreme Networks in a research note on Wednesday, November 8th.

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In other Extreme Networks news, Director Charles Carinalli sold 20,000 shares of Extreme Networks stock in a transaction on Friday, November 17th. The shares were sold at an average price of $12.91, for a total value of $258,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen M. Holmgren acquired 5,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was purchased at an average cost of $11.49 per share, with a total value of $57,450.00. Following the acquisition, the director now directly owns 36,662 shares of the company’s stock, valued at approximately $421,246.38. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Extreme Networks in the third quarter valued at $116,000. PNC Financial Services Group Inc. purchased a new stake in shares of Extreme Networks during the second quarter worth about $101,000. Howe & Rusling Inc. increased its stake in shares of Extreme Networks by 2,623.5% during the third quarter. Howe & Rusling Inc. now owns 11,357 shares of the technology company’s stock worth $135,000 after purchasing an additional 10,940 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Extreme Networks during the second quarter worth about $116,000. Finally, Sei Investments Co. purchased a new stake in shares of Extreme Networks during the third quarter worth about $161,000. 76.89% of the stock is owned by institutional investors.

Shares of Extreme Networks (NASDAQ EXTR) traded up $0.94 on Friday, reaching $13.91. 2,966,000 shares of the company’s stock traded hands, compared to its average volume of 1,555,530. The firm has a market capitalization of $1,580.00, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. Extreme Networks has a 52 week low of $4.17 and a 52 week high of $13.99. The company has a current ratio of 1.31, a quick ratio of 1.09 and a debt-to-equity ratio of 1.11.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The company had revenue of $211.72 million during the quarter, compared to the consensus estimate of $203.86 million. Extreme Networks had a net margin of 0.34% and a return on equity of 46.58%. Extreme Networks’s revenue was up 72.5% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. research analysts anticipate that Extreme Networks will post 0.6 earnings per share for the current fiscal year.

About Extreme Networks

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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