Extreme Networks (NASDAQ:EXTR) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Tuesday, July 3rd. DA Davidson decreased their price target on Extreme Networks to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 9th. BidaskClub upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th. TheStreet lowered Extreme Networks from a “c-” rating to a “d+” rating in a research report on Wednesday, September 12th. Finally, Needham & Company LLC lowered Extreme Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $11.75.

Shares of EXTR stock opened at $5.08 on Thursday. Extreme Networks has a fifty-two week low of $4.81 and a fifty-two week high of $15.55. The stock has a market cap of $648.40 million, a P/E ratio of 11.55, a PEG ratio of 1.09 and a beta of 1.01. The company has a quick ratio of 1.01, a current ratio of 1.19 and a debt-to-equity ratio of 1.67.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, August 8th. The technology company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Extreme Networks had a positive return on equity of 43.70% and a negative net margin of 4.76%. The business had revenue of $278.30 million during the quarter, compared to analysts’ expectations of $279.22 million. During the same quarter last year, the business posted $0.17 earnings per share. The company’s quarterly revenue was up 55.6% on a year-over-year basis. As a group, sell-side analysts predict that Extreme Networks will post 0.36 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in EXTR. BlackRock Inc. boosted its position in shares of Extreme Networks by 100.6% in the 1st quarter. BlackRock Inc. now owns 15,107,599 shares of the technology company’s stock valued at $167,242,000 after purchasing an additional 7,577,376 shares during the period. Paradigm Capital Management Inc. NY acquired a new stake in Extreme Networks during the 2nd quarter worth about $47,680,000. FMR LLC boosted its position in Extreme Networks by 925.2% during the 2nd quarter. FMR LLC now owns 3,381,200 shares of the technology company’s stock worth $26,914,000 after acquiring an additional 3,051,400 shares during the period. Millennium Management LLC boosted its position in Extreme Networks by 731.1% during the 2nd quarter. Millennium Management LLC now owns 1,200,465 shares of the technology company’s stock worth $9,556,000 after acquiring an additional 1,056,025 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Extreme Networks by 1,163.6% during the 1st quarter. Principal Financial Group Inc. now owns 967,304 shares of the technology company’s stock worth $10,708,000 after acquiring an additional 890,753 shares during the period. Institutional investors and hedge funds own 81.09% of the company’s stock.

About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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