B. Riley Boosts Extreme Networks (NASDAQ:EXTR) Price Target to $15.00

Extreme Networks (NASDAQ:EXTR) had its price objective increased by investment analysts at B. Riley from $14.00 to $15.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. B. Riley’s price target would suggest a potential upside of 29.09% from the stock’s current price.

Several other brokerages have also recently issued reports on EXTR. Needham & Company LLC restated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research note on Wednesday. UBS Group lowered Extreme Networks from a “buy” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $14.00 in a research note on Thursday, February 1st. Craig Hallum decreased their price target on Extreme Networks from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday. StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Rosenblatt Securities upgraded Extreme Networks from a “neutral” rating to a “buy” rating and increased their target price for the company from $15.00 to $17.00 in a report on Thursday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Extreme Networks has a consensus rating of “Hold” and an average price target of $20.50.

Extreme Networks Price Performance

Shares of NASDAQ EXTR traded up $0.17 during trading on Thursday, reaching $11.62. The company had a trading volume of 2,512,121 shares, compared to its average volume of 2,105,377. The stock has a market capitalization of $1.50 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 3.99 and a beta of 1.88. The stock has a 50-day moving average price of $11.57 and a two-hundred day moving average price of $14.91. Extreme Networks has a twelve month low of $10.57 and a twelve month high of $32.73. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. The firm had revenue of $296.38 million for the quarter, compared to analysts’ expectations of $295.50 million. As a group, sell-side analysts predict that Extreme Networks will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Extreme Networks

A number of large investors have recently added to or reduced their stakes in the company. Meritage Portfolio Management boosted its position in Extreme Networks by 5.5% during the 3rd quarter. Meritage Portfolio Management now owns 12,341 shares of the technology company’s stock worth $299,000 after buying an additional 638 shares during the period. Westover Capital Advisors LLC increased its stake in Extreme Networks by 0.4% during the 3rd quarter. Westover Capital Advisors LLC now owns 161,860 shares of the technology company’s stock valued at $3,919,000 after purchasing an additional 716 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Extreme Networks by 0.3% in the 3rd quarter. Nordea Investment Management AB now owns 228,483 shares of the technology company’s stock worth $5,596,000 after acquiring an additional 779 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Extreme Networks by 3.9% in the 4th quarter. Handelsbanken Fonder AB now owns 24,000 shares of the technology company’s stock worth $423,000 after acquiring an additional 900 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its stake in shares of Extreme Networks by 2.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 55,274 shares of the technology company’s stock worth $1,338,000 after acquiring an additional 1,374 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

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.