Extreme Networks, Inc. (NASDAQ:EXTR) Stock Has Consensus Price Target of $33.86

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $33.86.

A number of research firms have recently commented on EXTR. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Extreme Networks in a research note on Wednesday, October 28th. Rosenblatt Securities restated a “buy” rating and set a $38.00 target price on shares of Extreme Networks in a research note on Thursday, October 29th. Zacks Research raised Extreme Networks from a “hold” rating to a “strong-buy” rating in a report on Monday, November 2nd. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Extreme Networks in a report on Thursday, August 6th.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $21.77, for a total value of $1,088,500.00. Following the sale, the chief executive officer directly owned 1,710,097 shares in the company, valued at $37,228,811.69. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 21,825 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $22.30, for a total transaction of $486,697.50. Following the transaction, the chief financial officer owned 196,803 shares in the company, valued at approximately $4,388,706.90. The trade was a 9.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in Extreme Networks during the second quarter valued at about $25,000. CoreCap Advisors LLC raised its holdings in Extreme Networks by 72.3% in the 3rd quarter. CoreCap Advisors LLC now owns 1,201 shares of the technology company’s stock valued at $26,000 after acquiring an additional 504 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Extreme Networks in the 2nd quarter valued at approximately $28,000. Rockefeller Capital Management L.P. raised its holdings in Extreme Networks by 313.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,484 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Extreme Networks in the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Trading Up 4.7%

Shares of EXTR stock opened at $26.67 on Monday. Extreme Networks has a 12 month low of $13.48 and a 12 month high of $33.73. The company has a market cap of $3.50 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 1.65 and a beta of 1.81. The company has a quick ratio of 0.87, a current ratio of 1.02 and a debt-to-equity ratio of 2.27. The business’s 50 day moving average is $22.68 and its two-hundred day moving average is $22.32.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, October 28th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $341.09 million during the quarter, compared to analysts’ expectations of $336.75 million. Extreme Networks had a net margin of 3.99% and a return on equity of 102.41%. Extreme Networks’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. Equities analysts predict that Extreme Networks will post 0.86 EPS for the current year.

About Extreme Networks

Extreme Networks, Inc. develops networking products and software for businesses and other organizations. Its offerings include wired and wireless network infrastructure, such as switches and Wi-Fi access points, along with cloud-based tools for managing, monitoring and securing networks. The company also provides network analytics, support and professional services. Its solutions are used across industries including education, healthcare, government, retail and hospitality. Founded in 1996, Extreme Networks has expanded through acquisitions, including Enterasys Networks and networking businesses from Brocade and Avaya.