Extreme Networks (NASDAQ:EXTR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday morning.

Several other brokerages have also recently commented on EXTR. B. Riley restated a “buy” rating on shares of Extreme Networks in a report on Thursday, October 30th. Rosenblatt Securities restated a “buy” rating and set a $25.00 price target on shares of Extreme Networks in a research note on Tuesday, November 11th. Bank of America initiated coverage on shares of Extreme Networks in a report on Wednesday, November 19th. They set a “buy” rating and a $24.00 price target on the stock. Oppenheimer upgraded shares of Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Thursday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $24.00 target price on shares of Extreme Networks in a research report on Monday, November 24th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Extreme Networks has a consensus rating of “Moderate Buy” and an average target price of $23.83.

Extreme Networks Trading Down 3.3%

Extreme Networks stock opened at $14.70 on Friday. Extreme Networks has a 12 month low of $10.10 and a 12 month high of $22.89. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 2.32. The stock has a market cap of $1.97 billion, a P/E ratio of 210.00, a P/E/G ratio of 1.69 and a beta of 1.64. The company’s fifty day simple moving average is $16.64 and its 200-day simple moving average is $18.71.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. Extreme Networks had a return on equity of 81.83% and a net margin of 0.73%.The firm had revenue of $310.25 million during the quarter, compared to analysts’ expectations of $295.72 million. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, sell-side analysts forecast that Extreme Networks will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $16.54, for a total transaction of $827,000.00. Following the sale, the chief executive officer directly owned 1,871,418 shares in the company, valued at $30,953,253.72. This trade represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Extreme Networks

Institutional investors have recently bought and sold shares of the business. Salomon & Ludwin LLC purchased a new position in shares of Extreme Networks in the third quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Extreme Networks during the 3rd quarter valued at approximately $31,000. CWM LLC lifted its holdings in Extreme Networks by 44.8% in the 3rd quarter. CWM LLC now owns 2,095 shares of the technology company’s stock worth $43,000 after purchasing an additional 648 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Extreme Networks by 85.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,201 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,014 shares during the period. Finally, Quarry LP grew its holdings in Extreme Networks by 74.9% during the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after buying an additional 1,118 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

About Extreme Networks

Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company’s product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme’s Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.