DA Davidson set a $13.00 target price on Extreme Networks (NASDAQ:EXTR) in a research report report published on Monday, January 14th. The firm currently has a buy rating on the technology company’s stock.
EXTR has been the topic of several other research reports. ValuEngine lowered Extreme Networks from a sell rating to a strong sell rating in a research report on Wednesday, October 31st. Zacks Investment Research raised Extreme Networks from a hold rating to a buy rating and set a $7.00 price target on the stock in a research report on Tuesday, January 8th. Finally, BidaskClub raised Extreme Networks from a hold rating to a buy rating in a research report on Wednesday, November 7th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Extreme Networks presently has a consensus rating of Buy and a consensus target price of $9.00.
EXTR stock traded up $0.01 during trading on Monday, hitting $7.28. 1,101,537 shares of the company’s stock were exchanged, compared to its average volume of 1,580,661. The stock has a market cap of $866.36 million, a price-to-earnings ratio of 16.55, a PEG ratio of 1.96 and a beta of 1.08. Extreme Networks has a 52-week low of $4.81 and a 52-week high of $13.05. The company has a quick ratio of 1.04, a current ratio of 1.23 and a debt-to-equity ratio of 1.50.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Tuesday, January 29th. The technology company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.09. The firm had revenue of $252.70 million during the quarter, compared to analysts’ expectations of $244.45 million. Extreme Networks had a positive return on equity of 36.26% and a negative net margin of 2.04%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. As a group, sell-side analysts anticipate that Extreme Networks will post 0.27 EPS for the current year.
In other news, insider Edward Meyercord sold 99,859 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $6.34, for a total value of $633,106.06. Following the transaction, the insider now owns 554,840 shares of the company’s stock, valued at $3,517,685.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.45% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EXTR. Schwab Charles Investment Management Inc. grew its holdings in Extreme Networks by 9.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 896,587 shares of the technology company’s stock worth $7,137,000 after acquiring an additional 79,591 shares during the period. BlackRock Inc. boosted its position in Extreme Networks by 5.7% during the second quarter. BlackRock Inc. now owns 15,963,564 shares of the technology company’s stock worth $127,071,000 after purchasing an additional 855,965 shares in the last quarter. Legal & General Group Plc boosted its position in Extreme Networks by 6.8% during the second quarter. Legal & General Group Plc now owns 228,826 shares of the technology company’s stock worth $1,815,000 after purchasing an additional 14,484 shares in the last quarter. FMR LLC boosted its position in Extreme Networks by 925.2% during the second quarter. FMR LLC now owns 3,381,200 shares of the technology company’s stock worth $26,914,000 after purchasing an additional 3,051,400 shares in the last quarter. Finally, BlueMountain Capital Management LLC boosted its position in Extreme Networks by 8,273.7% during the second quarter. BlueMountain Capital Management LLC now owns 50,996 shares of the technology company’s stock worth $406,000 after purchasing an additional 50,387 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.
Extreme Networks Company Profile
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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