Analysts at Cowen initiated coverage on shares of Extreme Networks (NASDAQ:EXTR) in a research note issued on Wednesday. The firm set an “outperform” rating and a $16.00 price target on the technology company’s stock. Cowen’s price target would suggest a potential upside of 27.80% from the stock’s current price.
EXTR has been the subject of several other research reports. ValuEngine upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Extreme Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Craig Hallum reiterated a “buy” rating and set a $17.00 price target (up previously from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Extreme Networks in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Extreme Networks has an average rating of “Buy” and an average price target of $13.80.
Shares of Extreme Networks (NASDAQ EXTR) opened at $12.52 on Wednesday. Extreme Networks has a 1 year low of $4.91 and a 1 year high of $14.34. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.09 and a current ratio of 1.31. The company has a market cap of $1,420.00, a P/E ratio of 28.95, a PEG ratio of 1.21 and a beta of 1.14.
In related news, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total transaction of $138,100.00. Following the transaction, the director now owns 99,523 shares of the company’s stock, valued at approximately $1,374,412.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Carinalli sold 20,000 shares of Extreme Networks stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $12.91, for a total transaction of $258,200.00. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Extreme Networks during the 3rd quarter worth approximately $116,000. PNC Financial Services Group Inc. bought a new position in Extreme Networks in the second quarter valued at approximately $101,000. Howe & Rusling Inc. lifted its stake in Extreme Networks by 2,623.5% in the third quarter. Howe & Rusling Inc. now owns 11,357 shares of the technology company’s stock valued at $135,000 after buying an additional 10,940 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Extreme Networks in the second quarter valued at approximately $116,000. Finally, Sei Investments Co. bought a new position in Extreme Networks in the third quarter valued at approximately $161,000. 80.87% of the stock is currently owned by institutional investors and hedge funds.
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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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