Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Extreme Networks, Inc. (NASDAQ:EXTR) has earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $20.30.

A number of brokerages recently issued reports on EXTR. Rosenblatt Securities reissued a “buy” rating and set a $22.00 price target on shares of Extreme Networks in a report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. Lake Street Capital increased their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the transaction, the chief executive officer now owns 1,478,941 shares in the company, valued at $22,760,901.99. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EXTR. Mackenzie Financial Corp raised its holdings in Extreme Networks by 123.8% during the fourth quarter. Mackenzie Financial Corp now owns 52,804 shares of the technology company’s stock worth $884,000 after purchasing an additional 29,214 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Extreme Networks by 397,835.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company’s stock valued at $38,103,000 after buying an additional 2,275,619 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Extreme Networks during the 4th quarter worth $33,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Extreme Networks by 24.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,225 shares of the technology company’s stock worth $4,976,000 after purchasing an additional 57,810 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Extreme Networks by 48.0% during the 4th quarter. ProShare Advisors LLC now owns 38,924 shares of the technology company’s stock worth $652,000 after purchasing an additional 12,622 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Down 0.7 %

Shares of Extreme Networks stock opened at $14.89 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. Extreme Networks has a 12-month low of $10.50 and a 12-month high of $19.24. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -15.84, a PEG ratio of 3.06 and a beta of 1.72. The firm’s 50 day simple moving average is $15.69 and its two-hundred day simple moving average is $15.87.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. Analysts predict that Extreme Networks will post 0.31 EPS for the current year.

Extreme Networks declared that its board has approved a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.