Extreme Networks (NASDAQ:EXTR) Given “Buy” Rating at Needham & Company LLC

Extreme Networks (NASDAQ:EXTR)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $20.00 price target on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 26.82% from the company’s current price.

A number of other research analysts have also commented on the stock. Rosenblatt Securities raised their price objective on shares of Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday. 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 lifted their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Craig Hallum lifted 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 assigned a buy rating to the company. According to MarketBeat.com, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus price target of $19.90.

Extreme Networks Price Performance

NASDAQ EXTR opened at $15.77 on Thursday. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $19.24. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The firm has a market capitalization of $2.08 billion, a PE ratio of -16.26, a P/E/G ratio of 3.76 and a beta of 1.75. The company’s 50 day simple moving average is $17.19 and its 200 day simple moving average is $15.59.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data 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 net margin of 12.11% and a negative return on equity of 80.55%. As a group, equities research analysts forecast that Extreme Networks will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $16.06, for a total transaction of $80,300.00. Following the transaction, the director now directly owns 371,793 shares in the company, valued at $5,970,995.58. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,725 shares of company stock valued at $698,246 in the last three months. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Extreme Networks

Institutional investors and hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Extreme Networks during the 3rd quarter valued at $651,000. Lisanti Capital Growth LLC grew its holdings in shares of Extreme Networks by 61.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock valued at $2,938,000 after acquiring an additional 74,080 shares in the last quarter. Barclays PLC grew its holdings in shares of Extreme Networks by 369.8% during the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after acquiring an additional 171,500 shares in the last quarter. Aquila Investment Management LLC bought a new stake in Extreme Networks in the third quarter worth $962,000. Finally, Victory Capital Management Inc. boosted its holdings in Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after purchasing an additional 3,399,288 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other 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.