Analysts Set Extreme Networks, Inc (EXTR) Price Target at $13.33
Shares of Extreme Networks, Inc (NASDAQ:EXTR) have been given an average rating of “Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.33.
A number of analysts have recently weighed in on the stock. ValuEngine cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Needham & Company LLC restated a “buy” rating on shares of Extreme Networks in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Friday, November 10th. Finally, Craig Hallum restated a “buy” rating and issued a $17.00 price objective (up from $12.50) on shares of Extreme Networks in a research note on Wednesday, November 8th.
Shares of Extreme Networks (NASDAQ EXTR) traded up $0.11 during trading on Thursday, hitting $12.45. 1,141,784 shares of the stock were exchanged, compared to its average volume of 1,576,560. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.31 and a quick ratio of 1.09. Extreme Networks has a twelve month low of $4.91 and a twelve month high of $14.34. The firm has a market capitalization of $1,363.31, a PE ratio of 27.95, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14.
In related news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total transaction of $138,100.00. Following the completion of the transaction, the director now directly owns 99,523 shares in the company, valued at approximately $1,374,412.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles Carinalli sold 20,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $12.91, for a total transaction of $258,200.00. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Extreme Networks by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock valued at $74,138,000 after purchasing an additional 830,103 shares during the last quarter. State Street Corp raised its stake in Extreme Networks by 4.7% during the 2nd quarter. State Street Corp now owns 2,307,153 shares of the technology company’s stock valued at $21,273,000 after purchasing an additional 102,591 shares during the last quarter. FMR LLC raised its stake in Extreme Networks by 57.9% during the 2nd quarter. FMR LLC now owns 2,130,799 shares of the technology company’s stock valued at $19,647,000 after purchasing an additional 781,130 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Extreme Networks by 474.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,593,826 shares of the technology company’s stock valued at $14,695,000 after purchasing an additional 1,316,604 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC acquired a new position in Extreme Networks during the 2nd quarter valued at $14,029,000. Hedge funds and other institutional investors own 80.87% of the company’s stock.
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About Extreme Networks
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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