Extreme Networks, Inc (EXTR) Given Consensus Rating of “Buy” by Analysts

Shares of Extreme Networks, Inc (NASDAQ:EXTR) have been assigned an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $8.88.

A number of brokerages recently issued reports on EXTR. BidaskClub upgraded shares of Extreme Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. ValuEngine upgraded shares of Extreme Networks from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Finally, Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Wednesday.

In other Extreme Networks news, insider Edward Meyercord sold 99,859 shares of Extreme Networks stock in a transaction on Friday, November 16th. The shares were sold at an average price of $6.34, for a total value of $633,106.06. Following the transaction, the insider now owns 554,840 shares in the company, valued at approximately $3,517,685.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.45% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Vident Investment Advisory LLC purchased a new stake in Extreme Networks during the 3rd quarter worth $102,000. Virtu Financial LLC bought a new stake in shares of Extreme Networks in the 4th quarter worth about $157,000. BlueMountain Capital Management LLC increased its position in shares of Extreme Networks by 8,273.7% in the 2nd quarter. BlueMountain Capital Management LLC now owns 50,996 shares of the technology company’s stock worth $406,000 after purchasing an additional 50,387 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Extreme Networks by 57.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 62,464 shares of the technology company’s stock worth $497,000 after purchasing an additional 22,782 shares during the last quarter. Finally, B. Riley Financial Inc. bought a new stake in shares of Extreme Networks in the 3rd quarter worth about $411,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of EXTR stock traded up $0.11 during trading hours on Friday, hitting $6.46. The company’s stock had a trading volume of 1,703,259 shares, compared to its average volume of 1,343,212. The firm has a market capitalization of $737.24 million, a PE ratio of 14.68, a P/E/G ratio of 1.35 and a beta of 0.83. Extreme Networks has a twelve month low of $4.81 and a twelve month high of $15.55. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.23 and a quick ratio of 1.06.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Friday, November 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.05. Extreme Networks had a negative net margin of 5.96% and a positive return on equity of 35.66%. The firm had revenue of $239.89 million for the quarter, compared to analyst estimates of $233.36 million. During the same quarter last year, the business earned $0.16 earnings per share. Extreme Networks’s revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Extreme Networks will post 0.33 earnings per share for the current year.

Extreme Networks Company Profile

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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