Extreme Networks (NASDAQ:EXTR) Given New $21.00 Price Target at Rosenblatt Securities

Extreme Networks (NASDAQ:EXTR) had its price objective hoisted by Rosenblatt Securities from $17.00 to $21.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

EXTR has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum upped their price objective on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Trading Up 0.1 %

NASDAQ EXTR traded up $0.02 during trading on Thursday, hitting $14.95. The stock had a trading volume of 322,663 shares, compared to its average volume of 1,865,225. The firm has a 50 day moving average price of $14.88 and a 200 day moving average price of $13.29. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. Extreme Networks has a twelve month low of $10.49 and a twelve month high of $18.77. The company has a market capitalization of $1.97 billion, a PE ratio of -15.39, a PEG ratio of 3.67 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The business had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. During the same quarter in the previous year, the firm earned $0.24 EPS. Extreme Networks’s revenue for the quarter was down 29.5% compared to the same quarter last year. As a group, equities research analysts forecast that Extreme Networks will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks 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 transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.70% of the stock is owned by insiders.

Institutional Trading of Extreme Networks

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its position in Extreme Networks by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,035 shares during the period. Acadian Asset Management LLC bought a new position in Extreme Networks during the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC increased its position in shares of Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after purchasing an additional 4,709 shares during the period. Gladius Capital Management LP bought a new position in Extreme Networks during the second quarter valued at about $90,000. Finally, Hennessy Advisors Inc. acquired a new stake in Extreme Networks in the 2nd quarter valued at about $148,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

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.