Extreme Networks (NASDAQ:EXTR) Shares Gap Up – Still a Buy?

Extreme Networks, Inc. (NASDAQ:EXTR) gapped up before the market opened on Wednesday . The stock had previously closed at $16.25, but opened at $17.41. Extreme Networks shares last traded at $15.91, with a volume of 409,015 shares trading hands.

Wall Street Analysts Forecast Growth

EXTR has been the subject of several research reports. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. B. Riley increased their price target on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a research report on Wednesday, November 6th. Finally, Craig Hallum increased their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Stock Performance

The firm has a market capitalization of $2.11 billion, a PE ratio of -16.55, a price-to-earnings-growth ratio of 3.76 and a beta of 1.75. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The business’s fifty day simple moving average is $17.18 and its 200-day simple moving average is $15.59.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. As a group, equities research analysts expect that Extreme Networks, Inc. will post 0.27 EPS for the current year.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,667,734.88. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the sale, the director now owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,725 shares of company stock valued at $698,246. Insiders own 3.70% of the company’s stock.

Institutional Trading of Extreme Networks

Several institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue increased its stake in Extreme Networks by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock worth $1,257,000 after buying an additional 717 shares during the period. Pacer Advisors Inc. increased its position in shares of Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after acquiring an additional 741 shares during the period. Andina Capital Management LLC raised its stake in shares of Extreme Networks by 4.1% during the third quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock valued at $307,000 after acquiring an additional 795 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,035 shares during the period. Finally, OneDigital Investment Advisors LLC grew its stake in Extreme Networks by 2.2% in the third quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 1,541 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

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.