Extreme Networks Inc. (EXTR) Stock Rating Upgraded by DA Davidson
EXTR has been the subject of several other research reports. Zacks Investment Research upgraded Extreme Networks from a hold rating to a buy rating and set a $4.00 price target for the company in a report on Tuesday, July 12th. Needham & Company LLC reiterated a buy rating and set a $4.30 price target on shares of Extreme Networks in a report on Wednesday, August 31st. Finally, Wunderlich boosted their price objective on Extreme Networks from $5.00 to $6.00 and gave the stock a buy rating in a research report on Thursday, September 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $5.04.
Extreme Networks (NASDAQ:EXTR) opened at 4.41 on Thursday. The company has a 50 day moving average price of $3.98 and a 200-day moving average price of $3.55. The company’s market cap is $469.17 million. Extreme Networks has a 12 month low of $2.32 and a 12 month high of $4.55.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. Extreme Networks had a positive return on equity of 15.59% and a negative net margin of 6.03%. The business earned $140 million during the quarter, compared to the consensus estimate of $141.89 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. Extreme Networks’s revenue was down 7.1% compared to the same quarter last year. 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 the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $3.80, for a total value 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director John H. Kispert sold 15,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $4.00, for a total value of $60,000.00. Following the completion of the transaction, the director now directly owns 170,748 shares in the company, valued at approximately $682,992. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of EXTR. Smith Asset Management Group LP boosted its position in shares of Extreme Networks by 4.8% in the second quarter. Smith Asset Management Group LP now owns 878,930 shares of the company’s stock worth $2,980,000 after buying an additional 40,620 shares in the last quarter. Boothbay Fund Management LLC boosted its position in shares of Extreme Networks by 26.3% in the first quarter. Boothbay Fund Management LLC now owns 366,697 shares of the company’s stock worth $1,140,000 after buying an additional 76,422 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Extreme Networks by 84.0% in the first quarter. Panagora Asset Management Inc. now owns 151,521 shares of the company’s stock worth $471,000 after buying an additional 69,168 shares in the last quarter. Barclays PLC boosted its position in shares of Extreme Networks by 54.0% in the first quarter. Barclays PLC now owns 536,353 shares of the company’s stock worth $1,609,000 after buying an additional 188,153 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in shares of Extreme Networks during the first quarter worth approximately $117,000. 80.41% of the stock is currently owned by hedge funds and other 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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