Extreme Networks Inc. (EXTR) Shares Up 2.8%
Shares of Extreme Networks Inc. (NASDAQ:EXTR) shot up 2.8% during mid-day trading on Tuesday . The company traded as high as $3.73 and last traded at $3.73, with a volume of 161,817 shares changing hands. The stock had previously closed at $3.63.
A number of research firms have recently issued reports on EXTR. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “strong-buy” rating and set a $4.00 price objective on the stock in a research note on Tuesday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $3.75 price target on shares of Extreme Networks in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $4.45.
The company’s market capitalization is $390.92 million. The firm has a 50 day moving average price of $3.54 and a 200-day moving average price of $3.28.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The firm earned $125.30 million during the quarter, compared to the consensus estimate of $123.02 million. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. On average, analysts expect that Extreme Networks Inc. will post $0.28 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in EXTR. Systematic Financial Management LP purchased a new stake in shares of Extreme Networks during the fourth quarter valued at approximately $1,405,000. New York State Common Retirement Fund boosted its stake in shares of Extreme Networks by 162.9% in the fourth quarter. New York State Common Retirement Fund now owns 438,469 shares of the company’s stock valued at $1,789,000 after buying an additional 271,679 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Extreme Networks by 35.0% in the fourth quarter. California Public Employees Retirement System now owns 685,600 shares of the company’s stock valued at $2,797,000 after buying an additional 177,600 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Extreme Networks by 170.6% in the fourth quarter. Nationwide Fund Advisors now owns 565,433 shares of the company’s stock valued at $2,307,000 after buying an additional 356,457 shares during the last quarter. Finally, Russell Frank Co boosted its stake in shares of Extreme Networks by 32.0% in the fourth quarter. Russell Frank Co now owns 545,358 shares of the company’s stock valued at $2,258,000 after buying an additional 132,274 shares during the last quarter.
Extreme Networks, Inc, together with its subsidiaries, is a provider of wired and wireless network infrastructure equipment, software and services for enterprises, data centers and service providers. The Company sells its products through an ecosystem of the Company channel partners who combine its Ethernet products with their offerings to create information technology solutions for end user customers.
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