Extreme Networks (NASDAQ:EXTR) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research note released on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $16.50 price objective on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. TheStreet cut shares of Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. StockNews.com cut shares of Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. UBS Group cut shares of Extreme Networks from a buy rating to a neutral rating and dropped their price objective for the company from $22.00 to $14.00 in a report on Thursday, February 1st. 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 report on Monday, April 15th. Finally, Rosenblatt Securities cut shares of Extreme Networks from a buy rating to a neutral rating and dropped their price objective for the company from $19.00 to $15.00 in a report on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $22.36.

Extreme Networks Price Performance

Shares of EXTR opened at $11.45 on Wednesday. Extreme Networks has a 1-year low of $10.57 and a 1-year high of $32.73. The stock has a market cap of $1.47 billion, a PE ratio of 19.08, a P/E/G ratio of 4.12 and a beta of 1.90. The firm has a 50-day simple moving average of $11.57 and a two-hundred day simple moving average of $14.91. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Extreme Networks by 17.0% in the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock worth $312,191,000 after acquiring an additional 1,877,727 shares during the last quarter. Raymond James & Associates lifted its position in shares of Extreme Networks by 4.1% during the 4th quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock worth $9,526,000 after buying an additional 21,203 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Extreme Networks by 167,176.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after buying an additional 3,407,064 shares during the last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Extreme Networks during the 4th quarter worth approximately $1,613,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Extreme Networks during the 3rd quarter worth approximately $31,284,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.