Craig Hallum Raises Extreme Networks (NASDAQ:EXTR) Price Target to $22.50

Extreme Networks (NASDAQ:EXTR) had its price objective lifted by Craig Hallum from $17.00 to $22.50 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective suggests a potential upside of 49.11% from the stock’s previous close.

EXTR has been the topic of several other research reports. Rosenblatt Securities raised their price target on shares of Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Price Performance

EXTR stock opened at $15.09 on Thursday. The stock has a market capitalization of $1.99 billion, a PE ratio of -15.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76. The company’s 50-day moving average is $14.88 and its 200-day moving average is $13.32. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. Extreme Networks has a 1 year low of $10.49 and a 1 year high of $18.77.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The company had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. Extreme Networks’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. Equities research analysts expect that Extreme Networks will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the sale, the director now owns 228,733 shares in the company, valued at $3,780,956.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,175 shares of company stock worth $1,763,279. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in shares of Extreme Networks during the 1st quarter worth approximately $27,000. GAMMA Investing LLC increased its stake in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,035 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Extreme Networks by 1,635.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after buying an additional 4,709 shares in the last quarter. Gladius Capital Management LP purchased a new position in Extreme Networks in the 2nd quarter valued at approximately $90,000. Finally, Hennessy Advisors Inc. purchased a new position in Extreme Networks in the 2nd quarter valued at approximately $148,000. 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.