Extreme Networks (NASDAQ:EXTR) Given New $22.50 Price Target at Craig Hallum

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

Several other equities analysts also recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Rosenblatt Securities upped their target price on Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Price Performance

NASDAQ EXTR opened at $15.09 on Thursday. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $18.77. 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 $1.99 billion, a price-to-earnings ratio of -15.56, a price-to-earnings-growth ratio of 3.44 and a beta of 1.77. The company has a 50 day simple moving average of $14.88 and a 200-day simple moving average of $13.35.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) 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 during the quarter, compared to the consensus estimate of $253.21 million. During the same period in the previous year, the firm posted $0.24 EPS. The company’s quarterly revenue was down 29.5% compared to the same quarter last year. Equities research analysts predict that Extreme Networks will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 117,175 shares of company stock worth $1,763,279 in the last three months. Insiders own 3.70% of the company’s stock.

Institutional Trading of Extreme Networks

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in Extreme Networks during the 1st quarter worth approximately $27,000. GAMMA Investing LLC raised its holdings in Extreme Networks by 109.5% during the third 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 acquired a new stake in Extreme Networks in the second quarter valued at $90,000. Finally, Hennessy Advisors Inc. bought a new position in Extreme Networks during the second quarter worth about $148,000. Institutional investors own 91.05% of the company’s stock.

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.