Cowen lowered shares of Extreme Networks (NASDAQ:EXTR) from an outperform rating to a market perform rating in a report released on Thursday morning, MarketBeat.com reports. The firm currently has $6.50 target price on the technology company’s stock, down from their prior target price of $16.00.

Several other research firms have also issued reports on EXTR. BidaskClub upgraded Extreme Networks from a sell rating to a hold rating in a research note on Wednesday, May 9th. ValuEngine upgraded Extreme Networks from a strong sell rating to a sell rating in a research note on Tuesday, June 12th. Finally, Zacks Investment Research upgraded 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 Wednesday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $11.75.

Extreme Networks stock traded up $0.22 during mid-day trading on Thursday, hitting $6.46. 4,131,338 shares of the company were exchanged, compared to its average volume of 2,350,275. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.19 and a quick ratio of 0.88. Extreme Networks has a 1-year low of $5.35 and a 1-year high of $15.55. The firm has a market capitalization of $723.17 million, a P/E ratio of 14.68, a P/E/G ratio of 0.38 and a beta of 1.39.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Extreme Networks had a positive return on equity of 43.70% and a negative net margin of 4.76%. The firm had revenue of $278.30 million during the quarter, compared to analyst estimates of $279.22 million. During the same period in the prior year, the company posted $0.17 earnings per share. The business’s revenue for the quarter was up 55.6% compared to the same quarter last year. equities research analysts predict that Extreme Networks will post 0.96 EPS for the current fiscal year.

In other Extreme Networks news, Director Edward H. Kennedy bought 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The shares were bought at an average price of $8.62 per share, for a total transaction of $431,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward Meyercord bought 20,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The shares were acquired at an average price of $8.42 per share, for a total transaction of $168,400.00. The disclosure for this purchase can be found here. Insiders have acquired 130,000 shares of company stock valued at $1,140,500 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. United Services Automobile Association grew its holdings in shares of Extreme Networks by 31.9% during the second quarter. United Services Automobile Association now owns 782,785 shares of the technology company’s stock worth $6,231,000 after purchasing an additional 189,463 shares during the last quarter. Teton Advisors Inc. grew its holdings in shares of Extreme Networks by 8.5% during the second quarter. Teton Advisors Inc. now owns 375,400 shares of the technology company’s stock worth $2,988,000 after purchasing an additional 29,300 shares during the last quarter. FMR LLC grew its holdings in shares of Extreme Networks by 925.2% during the second quarter. FMR LLC now owns 3,381,200 shares of the technology company’s stock worth $26,914,000 after purchasing an additional 3,051,400 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Extreme Networks by 6.8% during the second quarter. Legal & General Group Plc now owns 228,826 shares of the technology company’s stock worth $1,815,000 after purchasing an additional 14,484 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Extreme Networks by 5.7% during the second quarter. BlackRock Inc. now owns 15,963,564 shares of the technology company’s stock worth $127,071,000 after purchasing an additional 855,965 shares during the last quarter. Institutional investors own 85.61% of the company’s stock.

Extreme Networks Company Profile

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. 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.

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Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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