Extreme Networks Inc. (EXTR) Price Target Raised to $6.00
Several other equities analysts have also recently issued reports on EXTR. Needham & Company LLC lifted their price objective on Extreme Networks from $3.75 to $4.30 and gave the company a buy rating in a research note on Thursday, August 4th. Zacks Investment Research lowered Extreme Networks from a buy rating to a hold rating in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $5.04.
Shares of Extreme Networks (NASDAQ:EXTR) opened at 4.40 on Thursday. Extreme Networks has a 52 week low of $2.32 and a 52 week high of $4.55. The firm’s market capitalization is $468.11 million. The firm has a 50-day moving average of $3.96 and a 200 day moving average of $3.54.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business earned $140 million during the quarter, compared to analysts’ expectations of $141.89 million. Extreme Networks had a positive return on equity of 15.59% and a negative net margin of 6.03%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. On average, equities analysts predict that Extreme Networks will post $0.34 earnings per share for the current fiscal year.
In other Extreme Networks news, Director John H. Kispert sold 25,000 shares of Extreme Networks stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $3.80, for a total transaction of $95,000.00. Following the transaction, the director now owns 180,748 shares of the company’s stock, valued at $686,842.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Shoemaker sold 15,000 shares of Extreme Networks stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $4.25, for a total value of $63,750.00. Following the transaction, the director now directly owns 220,748 shares in the company, valued at approximately $938,179. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA raised its position in Extreme Networks by 50.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 30,000 shares of the company’s stock valued at $102,000 after buying an additional 10,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Extreme Networks during the second quarter valued at approximately $105,000. Walleye Trading LLC raised its position in Extreme Networks by 346.6% in the second quarter. Walleye Trading LLC now owns 32,600 shares of the company’s stock valued at $111,000 after buying an additional 25,300 shares during the period. A.R.T. Advisors LLC purchased a new position in Extreme Networks during the first quarter valued at approximately $117,000. Finally, BlackRock Group LTD raised its position in Extreme Networks by 53.6% in the second quarter. BlackRock Group LTD now owns 38,518 shares of the company’s stock valued at $131,000 after buying an additional 13,441 shares during the period. 82.33% of the stock is currently owned by institutional investors.
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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