Q3 2017 Earnings Estimate for Extreme Networks Inc. (EXTR) Issued By DA Davidson
Extreme Networks Inc. (NASDAQ:EXTR) – Analysts at DA Davidson upped their Q3 2017 earnings per share estimates for shares of Extreme Networks in a research report issued on Thursday. DA Davidson analyst M. Kelleher now expects that the firm will earn $0.03 per share for the quarter, up from their previous forecast of $0.02. DA Davidson has a “Buy” rating and a $5.00 price objective on the stock.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The company earned $140 million during the quarter, compared to analyst estimates of $141.89 million. Extreme Networks had a negative net margin of 6.03% and a positive return on equity of 15.59%. The company’s revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share.
Several other research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research note on Monday, August 8th. Needham & Company LLC restated a “buy” rating and set a $4.30 price objective on shares of Extreme Networks in a research note on Wednesday, August 31st. Buckingham Research lifted their target price on shares of Extreme Networks from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, September 15th. Finally, Wunderlich lifted their target price on shares of Extreme Networks from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, September 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $5.04.
Extreme Networks (NASDAQ:EXTR) traded up 0.68% during mid-day trading on Monday, hitting $4.44. 105,516 shares of the stock traded hands. The firm’s 50-day moving average price is $3.98 and its 200-day moving average price is $3.55. Extreme Networks has a 52 week low of $2.32 and a 52 week high of $4.55. The firm’s market cap is $472.36 million.
A number of hedge funds have recently bought and sold shares of the stock. Compagnie Lombard Odier SCmA increased its stake in shares of Extreme Networks by 50.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 30,000 shares of the company’s stock worth $102,000 after buying an additional 10,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Extreme Networks during the second quarter worth about $105,000. Walleye Trading LLC boosted 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 worth $111,000 after buying an additional 25,300 shares in the last quarter. A.R.T. Advisors LLC bought a new position in Extreme Networks during the first quarter worth about $117,000. Finally, BlackRock Group LTD boosted 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 worth $131,000 after buying an additional 13,441 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.
In other Extreme Networks news, Director John C. Shoemaker sold 15,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $4.25, for a total value of $63,750.00. Following the completion of the sale, the director now owns 220,748 shares of the company’s stock, valued at approximately $938,179. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John H. Kispert sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $3.80, for a total transaction of $95,000.00. Following the completion of the sale, the director now directly owns 180,748 shares of the company’s stock, valued at approximately $686,842.40. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.
About Extreme Networks
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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