Extreme Networks, Inc. (EXTR) Rating Increased to Buy at Zacks Investment Research
Extreme Networks, Inc. (NASDAQ:EXTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $13.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.66% from the company’s previous close.
According to Zacks, “Extreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs. “
Other analysts have also issued research reports about the company. BidaskClub lowered Extreme Networks from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Craig Hallum reiterated a “buy” rating and set a $17.00 target price (up previously from $12.50) on shares of Extreme Networks in a report on Wednesday. ValuEngine lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Needham & Company LLC upped their target price on Extreme Networks from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.25.
Extreme Networks (NASDAQ EXTR) traded down $0.19 on Friday, reaching $11.24. The company had a trading volume of 1,455,300 shares, compared to its average volume of 1,331,724. 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 capitalization of $1,274.84, a price-to-earnings ratio of 26.14, a PEG ratio of 1.28 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 released its earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $211.72 million for the quarter, compared to analyst estimates of $203.86 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. Extreme Networks’s revenue was up 72.5% on a year-over-year basis. equities research analysts anticipate that Extreme Networks will post 0.56 earnings per share for the current year.
In other Extreme Networks news, Director Kathleen M. Holmgren purchased 5,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were purchased at an average price of $11.49 per share, with a total value of $57,450.00. Following the completion of the transaction, the director now directly owns 36,662 shares in the company, valued at $421,246.38. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward Meyercord sold 100,000 shares of the business’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 value of $1,052,000.00. Following the transaction, the insider now directly owns 471,653 shares in the company, valued at approximately $4,961,789.56. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in EXTR. PNC Financial Services Group Inc. acquired a new position in Extreme Networks during the second quarter worth approximately $101,000. BlueCrest Capital Management Ltd acquired a new position in Extreme Networks during the second quarter worth approximately $116,000. SG Americas Securities LLC acquired a new position in Extreme Networks during the third quarter worth approximately $116,000. Ameritas Investment Partners Inc. increased its position in Extreme Networks by 13.0% during 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. Finally, Amalgamated Bank increased its position in Extreme Networks by 10.9% during the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock worth $130,000 after buying an additional 1,378 shares during the last quarter. 80.05% of the stock is currently owned by hedge funds and other institutional investors.
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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