DA Davidson Comments on Extreme Networks, Inc.’s Q2 2019 Earnings (EXTR)
Extreme Networks, Inc. (NASDAQ:EXTR) – DA Davidson issued their Q2 2019 EPS estimates for Extreme Networks in a research report issued on Tuesday. DA Davidson analyst M. Kelleher anticipates that the technology company will earn $0.15 per share for the quarter. DA Davidson also issued estimates for Extreme Networks’ Q4 2019 earnings at $0.24 EPS.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Monday, August 14th. The technology company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. The company had revenue of $178.70 million for the quarter, compared to the consensus estimate of $171.96 million. Extreme Networks had a positive return on equity of 43.34% and a negative net margin of 1.42%. The business’s revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share.
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Several other analysts have also recently commented on EXTR. Needham & Company LLC reiterated a “buy” rating and set a $12.50 target price (up previously from $9.50) on shares of Extreme Networks in a research report on Friday, June 2nd. BidaskClub cut shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $8.20.
Extreme Networks (EXTR) traded up 1.34% during midday trading on Thursday, hitting $10.59. The stock had a trading volume of 2,112,287 shares. The stock’s 50-day moving average is $9.29 and its 200-day moving average is $8.13. Extreme Networks has a one year low of $3.75 and a one year high of $11.03. The company’s market cap is $1.17 billion.
A number of institutional investors have recently made changes to their positions in EXTR. PNC Financial Services Group Inc. bought a new position in shares of Extreme Networks during the second quarter worth $101,000. FNY Partners Fund LP bought a new position in shares of Extreme Networks during the first quarter worth $112,000. Bank of Montreal Can raised its position in shares of Extreme Networks by 3,689.4% in the first quarter. Bank of Montreal Can now owns 15,006 shares of the technology company’s stock worth $113,000 after buying an additional 14,610 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Extreme Networks during the second quarter worth $116,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of Extreme Networks by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock worth $124,000 after buying an additional 1,565 shares during the last quarter. 80.44% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Edward Meyercord sold 65,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $10.10, for a total value of $656,500.00. Following the completion of the sale, the insider now owns 563,034 shares in the company, valued at approximately $5,686,643.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.91% of the stock is owned by corporate insiders.
Extreme Networks Company Profile
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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