Brokerages Set Extreme Networks, Inc. (NASDAQ:EXTR) Price Target at $19.00

Extreme Networks, Inc. (NASDAQ:EXTR) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $19.00.

Several analysts have recently commented on EXTR shares. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Craig Hallum upped their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. B. Riley increased their target price 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, Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the stock in a transaction 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 sale, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 4.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,363,575.50. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,450 shares of company stock worth $1,390,490 over the last three months. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Extreme Networks

Hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in Extreme Networks during the third quarter worth about $26,000. GAMMA Investing LLC increased its position in shares of Extreme Networks by 109.5% during the 3rd 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 last quarter. KBC Group NV raised its position in Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after acquiring an additional 1,745 shares during the period. Allspring Global Investments Holdings LLC increased its position in Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after buying an additional 4,709 shares in the last quarter. Finally, Gladius Capital Management LP bought a new stake in Extreme Networks during the 2nd quarter worth approximately $90,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $17.78 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks has a 12-month low of $10.49 and a 12-month high of $18.77. The company has a market cap of $2.35 billion, a P/E ratio of -18.33, a PEG ratio of 3.81 and a beta of 1.76. The company has a fifty day simple moving average of $15.84 and a 200 day simple moving average of $14.40.

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.