Extreme Networks, Inc. (NASDAQ:EXTR) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Extreme Networks has received an average recommendation of "Moderate Buy" from analysts, with five buy ratings, one hold, and one sell rating.
• The average 12-month target price for Extreme Networks stock is $22.92, reflecting bullish sentiment among several analysts.
• Insider trading activity included the sale of 25,000 shares by Director Edward H. Kennedy, reducing his ownership stake by 3.92%.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $22.9167.

A number of research analysts have issued reports on EXTR shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Extreme Networks in a report on Saturday, September 27th. Rosenblatt Securities raised their target price on Extreme Networks from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. UBS Group boosted their price target on Extreme Networks from $15.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Lake Street Capital upgraded Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research note on Thursday, August 7th. Finally, Needham & Company LLC lifted their target price on Extreme Networks from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, August 7th.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Edward H. Kennedy sold 25,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $20.01, for a total value of $500,250.00. Following the sale, the director directly owned 612,691 shares of the company's stock, valued at approximately $12,259,946.91. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin R. Rhodes sold 14,000 shares of Extreme Networks stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $21.52, for a total value of $301,280.00. Following the transaction, the chief financial officer owned 126,202 shares of the company's stock, valued at $2,715,867.04. The trade was a 9.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,725 shares of company stock worth $2,015,216 over the last ninety days. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EXTR. GAMMA Investing LLC boosted its position in Extreme Networks by 105.6% in the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock worth $42,000 after purchasing an additional 1,628 shares in the last quarter. Byrne Asset Management LLC lifted its stake in shares of Extreme Networks by 115.6% in the 1st quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company's stock valued at $51,000 after purchasing an additional 2,081 shares during the period. Globeflex Capital L P purchased a new stake in Extreme Networks during the second quarter worth $102,000. Steward Partners Investment Advisory LLC boosted its holdings in Extreme Networks by 2,616.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,867 shares of the technology company's stock worth $105,000 after buying an additional 5,651 shares in the last quarter. Finally, Petrus Trust Company LTA acquired a new stake in Extreme Networks during the first quarter valued at $158,000. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $20.29 on Friday. Extreme Networks has a fifty-two week low of $10.10 and a fifty-two week high of $22.89. The company has a market cap of $2.71 billion, a PE ratio of -405.80, a P/E/G ratio of 2.13 and a beta of 1.81. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91. The business has a 50-day simple moving average of $20.68 and a two-hundred day simple moving average of $17.15.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The firm had revenue of $307.00 million during the quarter, compared to analyst estimates of $299.88 million. Extreme Networks had a negative net margin of 0.65% and a positive return on equity of 82.47%. Extreme Networks's revenue was up 19.6% on a year-over-year basis. During the same period last year, the firm posted ($0.08) EPS. As a group, equities analysts expect that Extreme Networks will post 0.31 EPS for the current fiscal year.

Extreme Networks Company Profile

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.

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