Extreme Networks (NASDAQ:EXTR) Price Target Raised to $22.50

Extreme Networks (NASDAQ:EXTR) had its price objective upped by Craig Hallum from $17.00 to $22.50 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

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

Extreme Networks Stock Up 1.1 %

Extreme Networks stock opened at $15.09 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The business’s 50-day simple moving average is $14.88 and its 200-day simple moving average is $13.34. Extreme Networks has a 52 week low of $10.49 and a 52 week high of $18.77.

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

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, 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 SEC, which is available at this hyperlink. In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the business’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 transaction, the director now directly owns 228,733 shares in the company, valued at $3,780,956.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,175 shares of company stock worth $1,763,279. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EXTR. Acadian Asset Management LLC acquired a new position in shares of Extreme Networks during the first quarter worth $27,000. GAMMA Investing LLC raised its holdings in shares of Extreme Networks by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,035 shares during the last quarter. Allspring Global Investments Holdings LLC increased 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 during the last quarter. Gladius Capital Management LP bought a new position in shares of Extreme Networks during the 2nd quarter valued at approximately $90,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Extreme Networks during the 2nd quarter valued at approximately $148,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.