Extreme Networks, Inc. (NASDAQ:EXTR) Receives $15.90 Consensus Target Price from Analysts

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $15.90.

EXTR has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum lifted their price objective on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 8th.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,754,637.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Andina Capital Management LLC lifted its stake in Extreme Networks by 4.1% in the third quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock worth $307,000 after acquiring an additional 795 shares during the last quarter. Aquila Investment Management LLC acquired a new position in Extreme Networks in the 3rd quarter valued at $962,000. Allspring Global Investments Holdings LLC grew its stake in shares of Extreme Networks by 134.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,700 shares of the technology company’s stock worth $176,000 after purchasing an additional 6,703 shares during the period. Raymond James & Associates grew its stake in shares of Extreme Networks by 2.0% during the 3rd quarter. Raymond James & Associates now owns 460,153 shares of the technology company’s stock worth $6,916,000 after purchasing an additional 9,217 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Extreme Networks in the 3rd quarter valued at about $179,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Price Performance

Shares of EXTR opened at $14.35 on Friday. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $20.88. The firm has a 50-day simple moving average of $14.89 and a two-hundred day simple moving average of $13.20. The company has a current ratio of 0.90, a quick ratio of 0.63 and a debt-to-equity ratio of 7.05.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The company had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. Extreme Networks’s revenue was down 29.5% on a year-over-year basis. On average, analysts anticipate that Extreme Networks will post 0.25 EPS for the current year.

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.