Q3 2018 EPS Estimates for Extreme Networks, Inc Raised by DA Davidson (EXTR)
Extreme Networks, Inc (NASDAQ:EXTR) – Research analysts at DA Davidson raised their Q3 2018 EPS estimates for shares of Extreme Networks in a research note issued to investors on Wednesday. DA Davidson analyst M. Kelleher now anticipates that the technology company will post earnings per share of $0.13 for the quarter, up from their prior estimate of $0.12. DA Davidson has a “Buy” rating and a $17.00 price objective on the stock. DA Davidson also issued estimates for Extreme Networks’ Q4 2018 earnings at $0.19 EPS, FY2018 earnings at $0.52 EPS, Q1 2019 earnings at $0.15 EPS, Q2 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.24 EPS, Q4 2019 earnings at $0.27 EPS and FY2019 earnings at $0.83 EPS.
A number of other research analysts have also issued reports on the company. Zacks Investment Research raised Extreme Networks from a “sell” rating to a “hold” rating in a report on Monday. Needham & Company LLC boosted their target price on Extreme Networks from $14.85 to $15.50 and gave the company a “buy” rating in a report on Wednesday, February 7th. Cowen reissued a “buy” rating and issued a $18.00 target price on shares of Extreme Networks in a report on Wednesday, February 7th. BidaskClub raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 31st. Finally, JMP Securities assumed coverage on Extreme Networks in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $16.08.
Extreme Networks (NASDAQ:EXTR) last released its earnings results on Tuesday, February 6th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $231.12 million for the quarter, compared to analyst estimates of $241.49 million. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share.
A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank grew its holdings 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 acquiring an additional 1,378 shares during the period. Ameritas Investment Partners Inc. grew its holdings 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 acquiring an additional 1,565 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Extreme Networks by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 84,882 shares of the technology company’s stock worth $782,000 after acquiring an additional 3,319 shares during the period. Voya Investment Management LLC grew its holdings in Extreme Networks by 7.8% during the second quarter. Voya Investment Management LLC now owns 51,883 shares of the technology company’s stock worth $478,000 after acquiring an additional 3,773 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Extreme Networks by 1.4% during the fourth quarter. California Public Employees Retirement System now owns 350,812 shares of the technology company’s stock worth $4,392,000 after acquiring an additional 4,800 shares during the period. 82.00% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total transaction of $138,100.00. Following the transaction, the director now owns 99,523 shares of the company’s stock, valued at $1,374,412.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Carinalli sold 20,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $12.91, for a total value of $258,200.00. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
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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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