Extreme Networks, Inc. (NASDAQ:EXTR) Receives $18.58 Consensus PT from Analysts

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $18.58.

A number of research analysts recently commented on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 price objective on shares of Extreme Networks in a research report on Thursday, May 1st. Lake Street Capital reduced their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research note on Thursday, May 15th. Finally, UBS Group lowered their target price on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $13.73, for a total value of $490,504.25. Following the sale, the chief executive officer now directly owns 1,510,719 shares in the company, valued at approximately $20,742,171.87. This trade represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Extreme Networks

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Extreme Networks by 2.3% during the first quarter. Vanguard Group Inc. now owns 18,325,419 shares of the technology company's stock worth $242,445,000 after acquiring an additional 406,350 shares during the period. Paradigm Capital Management Inc. NY raised its stake in shares of Extreme Networks by 0.7% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 5,225,200 shares of the technology company's stock valued at $69,129,000 after purchasing an additional 35,400 shares during the period. Victory Capital Management Inc. raised its stake in shares of Extreme Networks by 13.9% in the 1st quarter. Victory Capital Management Inc. now owns 5,012,386 shares of the technology company's stock valued at $66,314,000 after purchasing an additional 611,462 shares during the period. Trigran Investments Inc. raised its stake in shares of Extreme Networks by 30.3% in the 1st quarter. Trigran Investments Inc. now owns 3,106,446 shares of the technology company's stock valued at $41,098,000 after purchasing an additional 722,121 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Extreme Networks by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock valued at $51,385,000 after purchasing an additional 49,888 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Price Performance

Shares of NASDAQ EXTR traded up $0.32 during midday trading on Monday, reaching $15.99. The company's stock had a trading volume of 1,258,074 shares, compared to its average volume of 1,366,546. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The company has a 50 day moving average price of $13.67 and a 200 day moving average price of $15.37. Extreme Networks has a one year low of $10.10 and a one year high of $19.24. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -17.01, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $284.51 million during the quarter, compared to analysts' expectations of $280.32 million. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The business's revenue for the quarter was up 34.8% on a year-over-year basis. During the same period last year, the company posted ($0.19) earnings per share. On average, equities research analysts expect that Extreme Networks will post 0.31 EPS for the current year.

Extreme Networks declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

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.