Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.58.

Several brokerages recently issued reports on EXTR. UBS Group dropped their price target on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, May 15th. Lake Street Capital dropped their price target on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 price objective on shares of Extreme Networks in a report on Thursday, May 1st.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the sale, the chief executive officer now owns 1,510,719 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by insiders.

Institutional Trading of Extreme Networks

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in shares of Extreme Networks by 369.8% in the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock valued at $3,274,000 after purchasing an additional 171,500 shares during the last quarter. KBC Group NV lifted its stake in shares of Extreme Networks by 37.7% during the fourth quarter. KBC Group NV now owns 6,831 shares of the technology company's stock worth $114,000 after purchasing an additional 1,872 shares in the last quarter. Pacer Advisors Inc. lifted its position in Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after acquiring an additional 741 shares in the last quarter. Calamos Advisors LLC lifted its position in Extreme Networks by 88.1% during the 4th quarter. Calamos Advisors LLC now owns 123,997 shares of the technology company's stock worth $2,076,000 after acquiring an additional 58,085 shares in the last quarter. Finally, Meritage Portfolio Management lifted its position in shares of Extreme Networks by 7.4% during the fourth quarter. Meritage Portfolio Management now owns 63,539 shares of the technology company's stock worth $1,064,000 after purchasing an additional 4,376 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Stock Up 0.9%

Extreme Networks stock traded up $0.14 during midday trading on Monday, reaching $16.36. The company's stock had a trading volume of 1,188,282 shares, compared to its average volume of 1,357,051. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. Extreme Networks has a fifty-two week low of $10.10 and a fifty-two week high of $19.24. The business has a 50-day simple moving average of $13.81 and a 200-day simple moving average of $15.39. The company has a market cap of $2.18 billion, a P/E ratio of -17.40, a P/E/G ratio of 3.06 and a beta of 1.67.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $280.32 million. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. The firm's revenue was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) earnings per share. On average, research analysts expect that Extreme Networks will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are 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.