Extreme Networks (NASDAQ:EXTR) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research report report published on Thursday, Benzinga reports. They currently have a $16.50 price objective on the technology company’s stock.

Other analysts have also recently issued research reports about the company. Rosenblatt Securities upgraded Extreme Networks from a neutral rating to a buy rating and increased their target price for the stock from $15.00 to $17.00 in a research report on Thursday, May 2nd. B. Riley lifted their price objective on shares of Extreme Networks from $14.00 to $15.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Finally, Craig Hallum raised shares of Extreme Networks from a hold rating to a buy rating and raised their target price for the company from $13.00 to $14.00 in a research note on Thursday, May 16th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $15.90.

Extreme Networks Stock Up 0.5 %

Extreme Networks stock opened at $13.48 on Thursday. Extreme Networks has a one year low of $10.49 and a one year high of $32.73. The stock has a fifty day moving average of $12.98 and a 200 day moving average of $12.27. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.61 and a current ratio of 0.96. The stock has a market cap of $1.75 billion, a PE ratio of -192.57, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). The business had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. Extreme Networks’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. As a group, sell-side analysts predict that Extreme Networks will post 0.08 EPS for the current year.

Institutional Trading of Extreme Networks

A number of large investors have recently made changes to their positions in EXTR. Mesirow Financial Investment Management Inc. grew its position in Extreme Networks by 108.8% in the second quarter. Mesirow Financial Investment Management Inc. now owns 25,223 shares of the technology company’s stock worth $339,000 after acquiring an additional 13,142 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $25,409,000. American Century Companies Inc. boosted its holdings in shares of Extreme Networks by 19.5% in the 2nd quarter. American Century Companies Inc. now owns 240,157 shares of the technology company’s stock worth $3,230,000 after purchasing an additional 39,260 shares during the period. Headlands Technologies LLC increased its position in shares of Extreme Networks by 87.7% during the 2nd quarter. Headlands Technologies LLC now owns 31,804 shares of the technology company’s stock valued at $428,000 after purchasing an additional 14,858 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in Extreme Networks by 38.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 155,699 shares of the technology company’s stock valued at $2,094,000 after buying an additional 43,036 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Company Profile

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.