Extreme Networks, Inc. (NASDAQ:EXTR) Receives $20.30 Consensus Target Price from Brokerages

Extreme Networks, Inc. (NASDAQ:EXTR) has earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $20.30.

Several equities research analysts have commented on EXTR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Extreme Networks in a report on Thursday, January 30th. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a research note on Friday, February 7th. Finally, Lake Street Capital boosted their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of Extreme Networks during the 3rd quarter valued at about $651,000. Barclays PLC lifted its holdings in shares of Extreme Networks by 369.8% during the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock worth $3,274,000 after acquiring an additional 171,500 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Extreme Networks during the 4th quarter worth $2,599,000. Legato Capital Management LLC grew its position in Extreme Networks by 225.2% in the fourth quarter. Legato Capital Management LLC now owns 107,948 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 74,758 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Extreme Networks by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 642,531 shares of the technology company’s stock valued at $10,756,000 after acquiring an additional 26,853 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Trading Down 0.6 %

NASDAQ:EXTR opened at $15.20 on Wednesday. Extreme Networks has a 12 month low of $10.50 and a 12 month high of $19.24. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The firm’s 50 day moving average is $15.62 and its 200 day moving average is $15.89. The stock has a market capitalization of $2.02 billion, a PE ratio of -16.17, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. Sell-side analysts expect that Extreme Networks will post 0.31 earnings per share for the current year.

Extreme Networks announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.