Extreme Networks, Inc. (NASDAQ:EXTR) Receives $22.36 Consensus Price Target from Brokerages

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been assigned a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $22.36.

EXTR has been the subject of several research reports. B. Riley upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Monday, April 15th. UBS Group lowered shares of Extreme Networks from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $14.00 in a report on Thursday, February 1st. TheStreet lowered shares of Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. Needham & Company LLC cut their price target on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a report on Thursday, February 1st. Finally, StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total transaction of $376,585.32. Following the sale, the chief executive officer now directly owns 1,129,611 shares in the company, valued at $14,956,049.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Extreme Networks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,989,988 shares of the technology company’s stock valued at $229,143,000 after acquiring an additional 94,881 shares during the period. FMR LLC lifted its holdings in shares of Extreme Networks by 32.0% during the third quarter. FMR LLC now owns 4,142,648 shares of the technology company’s stock worth $100,294,000 after purchasing an additional 1,004,002 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Extreme Networks by 167,176.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after purchasing an additional 3,407,064 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Extreme Networks by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,492,869 shares of the technology company’s stock worth $43,976,000 after purchasing an additional 194,802 shares during the period. Finally, Voss Capital LLC lifted its holdings in shares of Extreme Networks by 55.6% during the fourth quarter. Voss Capital LLC now owns 2,170,500 shares of the technology company’s stock worth $38,288,000 after purchasing an additional 775,500 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Extreme Networks Stock Down 3.0 %

NASDAQ:EXTR opened at $11.20 on Friday. Extreme Networks has a fifty-two week low of $10.57 and a fifty-two week high of $32.73. The stock has a market capitalization of $1.44 billion, a P/E ratio of 18.67, a P/E/G ratio of 4.14 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. The company’s 50-day simple moving average is $11.57 and its 200-day simple moving average is $14.93.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. On average, equities analysts anticipate that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

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.