Extreme Networks (NASDAQ:EXTR) Price Target Cut to $13.00

Extreme Networks (NASDAQ:EXTR) had its target price decreased by research analysts at Craig Hallum from $15.00 to $13.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Craig Hallum’s price target indicates a potential upside of 16.07% from the company’s previous close.

Several other equities analysts have also recently weighed in on EXTR. TheStreet cut Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. B. Riley raised shares of Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Monday, April 15th. Rosenblatt Securities raised shares of Extreme Networks from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $15.00 to $17.00 in a research report on Thursday. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Extreme Networks presently has a consensus rating of “Hold” and an average price target of $20.50.

Extreme Networks Stock Down 1.9 %

NASDAQ EXTR traded down $0.22 during trading hours on Thursday, hitting $11.20. The company’s stock had a trading volume of 4,770,165 shares, compared to its average volume of 2,162,929. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 2.78. The company’s 50-day simple moving average is $11.52 and its two-hundred day simple moving average is $14.80. The company has a market capitalization of $1.44 billion, a PE ratio of -160.00, a price-to-earnings-growth ratio of 4.07 and a beta of 1.88. Extreme Networks has a 52 week low of $10.57 and a 52 week high of $32.73.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. The company had revenue of $296.38 million during the quarter, compared to the consensus estimate of $295.50 million. Research analysts anticipate that Extreme Networks will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds have recently modified their holdings of EXTR. Pacer Advisors Inc. grew its holdings in Extreme Networks by 167,176.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after purchasing an additional 3,407,064 shares during the period. Norges Bank bought a new position in shares of Extreme Networks during the 4th quarter worth $33,267,000. Vanguard Group Inc. increased its holdings in Extreme Networks by 17.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock worth $312,191,000 after acquiring an additional 1,877,727 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Extreme Networks in the 3rd quarter valued at about $38,999,000. Finally, Fred Alger Management LLC purchased a new stake in Extreme Networks during the third quarter valued at about $33,920,000. Institutional investors own 91.05% of the company’s stock.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.