Extreme Networks’ (EXTR) Buy Rating Reiterated at Craig Hallum
Craig Hallum reissued their buy rating on shares of Extreme Networks, Inc. (NASDAQ:EXTR) in a research report released on Wednesday, The Fly reports. They currently have a $17.00 price objective on the technology company’s stock, up from their prior price objective of $12.50.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Extreme Networks from a strong-buy rating to a hold rating in a research report on Tuesday, October 17th. ValuEngine cut Extreme Networks from a buy rating to a hold rating in a research report on Monday, October 2nd. BidaskClub upgraded Extreme Networks from a sell rating to a hold rating in a research report on Wednesday, August 16th. Finally, Needham & Company LLC upped their price target on Extreme Networks from $12.50 to $13.00 and gave the company a buy rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Extreme Networks presently has an average rating of Buy and an average target price of $13.25.
Shares of Extreme Networks (EXTR) traded down $0.19 during trading on Wednesday, reaching $11.24. The company had a trading volume of 1,455,300 shares, compared to its average volume of 1,521,177. Extreme Networks has a fifty-two week low of $4.17 and a fifty-two week high of $13.20. The company has a market cap of $1,296.39, a PE ratio of 26.58, a P/E/G ratio of 1.30 and a beta of 1.13. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 0.75.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Extreme Networks had a return on equity of 51.82% and a net margin of 0.34%. The firm had revenue of $211.72 million for the quarter, compared to analysts’ expectations of $203.86 million. During the same period in the prior year, the business posted $0.07 earnings per share. The company’s revenue was up 72.5% on a year-over-year basis. research analysts predict that Extreme Networks will post 0.52 earnings per share for the current fiscal year.
In related news, Director Kathleen M. Holmgren acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the transaction, the director now owns 36,662 shares in the company, valued at $421,246.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Meyercord sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $10.52, for a total transaction of $1,052,000.00. Following the completion of the transaction, the insider now owns 471,653 shares in the company, valued at $4,961,789.56. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in shares of Extreme Networks by 35.0% in the third quarter. Wells Fargo & Company MN now owns 479,037 shares of the technology company’s stock worth $5,696,000 after purchasing an additional 124,178 shares during the last quarter. Trexquant Investment LP increased its position in shares of Extreme Networks by 28.5% in the third quarter. Trexquant Investment LP now owns 23,089 shares of the technology company’s stock worth $275,000 after purchasing an additional 5,114 shares during the last quarter. American International Group Inc. increased its position in shares of Extreme Networks by 8.1% in the third quarter. American International Group Inc. now owns 73,207 shares of the technology company’s stock worth $870,000 after purchasing an additional 5,473 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Extreme Networks in the third quarter worth approximately $4,991,000. Finally, Cipher Capital LP increased its position in shares of Extreme Networks by 53.7% in the third quarter. Cipher Capital LP now owns 341,982 shares of the technology company’s stock worth $4,066,000 after purchasing an additional 119,504 shares during the last quarter. Institutional investors own 80.05% of the company’s stock.
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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