Extreme Networks (NASDAQ:EXTR) Price Target Raised to $22.00

Extreme Networks (NASDAQ:EXTR) had its price target hoisted by Rosenblatt Securities from $21.00 to $22.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on EXTR. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Craig Hallum lifted their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, B. Riley upped their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Extreme Networks presently has a consensus rating of “Moderate Buy” and an average price target of $20.30.

Extreme Networks Stock Up 1.3 %

Extreme Networks stock opened at $15.81 on Thursday. The company has a fifty day simple moving average of $17.18 and a 200 day simple moving average of $15.62. 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 1-year low of $10.49 and a 1-year high of $19.24. The company has a market cap of $2.09 billion, a P/E ratio of -16.82, a price-to-earnings-growth ratio of 3.44 and a beta of 1.75.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 117.77%. Research analysts anticipate that Extreme Networks will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the transaction, the director now directly owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

A number of hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund boosted its holdings in Extreme Networks by 1,639.7% in the 4th quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company’s stock valued at $10,474,000 after purchasing an additional 589,713 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Extreme Networks by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 642,531 shares of the technology company’s stock valued at $10,756,000 after buying an additional 26,853 shares during the period. Rhumbline Advisers grew its position in Extreme Networks by 1.3% during the fourth quarter. Rhumbline Advisers now owns 372,591 shares of the technology company’s stock worth $6,237,000 after buying an additional 4,610 shares in the last quarter. Legato Capital Management LLC increased its stake in Extreme Networks by 225.2% during the 4th quarter. Legato Capital Management LLC now owns 107,948 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 74,758 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in Extreme Networks by 1.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company’s stock valued at $1,070,000 after acquiring an additional 900 shares in the last quarter. 91.05% of the stock is 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.