Extreme Networks (NASDAQ:EXTR) Price Target Cut to $13.00 by Analysts at Craig Hallum

Extreme Networks (NASDAQ:EXTR) had its target price cut by Craig Hallum from $15.00 to $13.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. UBS Group cut Extreme Networks from a buy rating to a neutral rating and cut their price objective for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. TheStreet cut Extreme Networks from a b- rating to a c+ rating in a research note on Tuesday, February 20th. StockNews.com downgraded Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. B. Riley upgraded shares of Extreme Networks from a neutral rating to a buy rating and set a $14.00 target price on the stock in a report on Monday, April 15th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $16.50 target price on shares of Extreme Networks in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $20.50.

Extreme Networks Trading Down 1.9 %

NASDAQ:EXTR traded down $0.22 during trading hours on Thursday, hitting $11.20. The company had a trading volume of 4,770,165 shares, compared to its average volume of 2,162,929. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.74. The stock has a 50-day moving average price of $11.52 and a 200 day moving average price of $14.80. The company has a market capitalization of $1.44 billion, a PE ratio of -160.00, a price-to-earnings-growth ratio of 4.07 and a beta of 1.88. Extreme Networks has a 52 week low of $10.57 and a 52 week high of $32.73.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. The company had revenue of $296.38 million during the quarter, compared to analysts’ expectations of $295.50 million. On average, equities research analysts predict that Extreme Networks will post 0.17 EPS for the current fiscal year.

Institutional Trading of Extreme Networks

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in shares of Extreme Networks by 101.8% in the first quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock worth $5,051,000 after buying an additional 220,763 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in Extreme Networks in the 1st quarter worth approximately $204,000. Principal Financial Group Inc. lifted its position in Extreme Networks by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 782,241 shares of the technology company’s stock valued at $9,027,000 after acquiring an additional 54,809 shares in the last quarter. Horrell Capital Management Inc. purchased a new stake in Extreme Networks during the 1st quarter valued at $3,808,000. Finally, Wesbanco Bank Inc. bought a new stake in shares of Extreme Networks in the 1st quarter worth $594,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

About Extreme Networks

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.