Extreme Networks (EXTR) Now Covered by Cowen

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.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Extreme Networks had a net margin of 0.34% and a return on equity of 46.58%. The company had revenue of $211.72 million during the quarter, compared to analysts’ expectations of $203.86 million. During the same quarter in the previous year, the company earned $0.07 EPS. Extreme Networks’s revenue was up 72.5% on a year-over-year basis. research analysts expect that Extreme Networks will post 0.6 earnings per share for the current year.

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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