Analysts Set Extreme Networks, Inc. (NASDAQ:EXTR) PT at $20.30

Extreme Networks, Inc. (NASDAQ:EXTR) has received an average rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $20.30.

EXTR has been the subject of several analyst reports. Lake Street Capital increased their target price on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Rosenblatt Securities restated a “buy” rating and issued a $22.00 target price on shares of Extreme Networks in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th.

Extreme Networks Trading Down 0.6 %

EXTR stock opened at $15.20 on Wednesday. The company has a market capitalization of $2.02 billion, a PE ratio of -16.17, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. Extreme Networks has a one year low of $10.50 and a one year high of $19.24. The company’s 50 day moving average price is $15.62 and its two-hundred day moving average price is $15.89.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. As a group, analysts predict that Extreme Networks will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the sale, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its position in Extreme Networks by 123.8% during the 4th quarter. Mackenzie Financial Corp now owns 52,804 shares of the technology company’s stock valued at $884,000 after acquiring an additional 29,214 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Extreme Networks by 397,835.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company’s stock valued at $38,103,000 after purchasing an additional 2,275,619 shares during the period. Orion Capital Management LLC bought a new stake in shares of Extreme Networks during the fourth quarter valued at approximately $33,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Extreme Networks by 24.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,225 shares of the technology company’s stock worth $4,976,000 after purchasing an additional 57,810 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Extreme Networks by 48.0% in the fourth quarter. ProShare Advisors LLC now owns 38,924 shares of the technology company’s stock worth $652,000 after purchasing an additional 12,622 shares in the last quarter. 91.05% of the stock is 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.