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

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.92.

EXTR has been the subject of a number of analyst reports. 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 restated a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research report on Thursday, May 15th. UBS Group cut their price objective on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities increased their target price on Extreme Networks from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Lake Street Capital cut their target price 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.

Insider Transactions at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 2,027 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $17.43, for a total transaction of $35,330.61. Following the completion of the sale, the director owned 231,708 shares in the company, valued at $4,038,670.44. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $18.21, for a total value of $650,552.25. Following the completion of the transaction, the chief executive officer directly owned 1,541,282 shares of the company's stock, valued at approximately $28,066,745.22. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,450 shares of company stock valued at $1,313,523 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Extreme Networks

Hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in Extreme Networks by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company's stock valued at $361,000 after purchasing an additional 4,610 shares during the period. Principal Financial Group Inc. grew its position in shares of Extreme Networks by 3.0% in the first quarter. Principal Financial Group Inc. now owns 661,779 shares of the technology company's stock valued at $8,755,000 after purchasing an additional 19,248 shares during the period. GAMMA Investing LLC increased its stake in shares of Extreme Networks by 2,619.8% during the first quarter. GAMMA Investing LLC now owns 41,939 shares of the technology company's stock worth $555,000 after purchasing an additional 40,397 shares in the last quarter. Edgestream Partners L.P. raised its position in shares of Extreme Networks by 76.9% during the 1st quarter. Edgestream Partners L.P. now owns 327,356 shares of the technology company's stock worth $4,331,000 after purchasing an additional 142,332 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its stake in Extreme Networks by 41.5% in the 1st quarter. Impax Asset Management Group plc now owns 955,178 shares of the technology company's stock valued at $12,637,000 after buying an additional 280,000 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Price Performance

Shares of Extreme Networks stock traded down $0.18 during trading on Tuesday, hitting $17.69. 376,111 shares of the stock traded hands, compared to its average volume of 1,225,162. Extreme Networks has a 52 week low of $10.10 and a 52 week high of $19.24. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 2.33. The firm's fifty day moving average is $16.98 and its 200-day moving average is $15.45. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -43.11, a PEG ratio of 2.09 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Extreme Networks had a negative net margin of 4.94% and a positive return on equity of 13.79%. The business had revenue of $284.51 million for the quarter, compared to analysts' expectations of $280.32 million. During the same quarter in the previous year, the business posted ($0.19) earnings per share. The firm's revenue for the quarter was up 34.8% compared to the same quarter last year. Research 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.