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

Key Points

• Extreme Networks has a “Moderate Buy” consensus rating: Six of eight analysts recommend buying the stock, while two rate it a hold. The average 12-month price target is $32.83, with recent targets ranging from $33 to $39.
• The company exceeded quarterly expectations, reporting $0.26 in EPS versus the $0.24 consensus and revenue of $316.87 million, up 11.4% year over year. Shares opened at $30.14, near the average analyst price target.
• Insiders have been selling shares: Company insiders sold 532,182 shares worth approximately $14.1 million over the past 90 days, while institutional investors own 91.05% of the stock.

Shares of Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) have received a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $32.8333.

EXTR has been the subject of several research analyst reports. Needham & Company LLC upped their target price on shares of Extreme Networks from $26.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Lake Street Capital raised their price target on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. Wall Street Zen lowered shares of Extreme Networks from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Bank of America increased their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Finally, Rosenblatt Securities lifted their target price on Extreme Networks from $29.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $30.14 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. The business has a 50 day moving average price of $30.18 and a 200 day moving average price of $21.48. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 251.17, a PEG ratio of 1.83 and a beta of 1.77. Extreme Networks has a twelve month low of $13.48 and a twelve month high of $33.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $316.87 million during the quarter, compared to analyst estimates of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. Research analysts predict that Extreme Networks will post 0.53 earnings per share for the current year.

Insider Transactions at Extreme Networks

In other news, Director Edward H. Kennedy sold 50,000 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $22.86, for a total transaction of $1,143,000.00. Following the sale, the director directly owned 576,045 shares in the company, valued at approximately $13,168,388.70. The trade was a 7.99% 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. Also, CFO Kevin R. Rhodes sold 35,000 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $30.43, for a total value of $1,065,050.00. Following the completion of the transaction, the chief financial officer owned 151,296 shares of the company's stock, valued at $4,603,937.28. The trade was a 18.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 532,182 shares of company stock worth $14,097,978. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Extreme Networks

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Bank & Trust increased its holdings in Extreme Networks by 2.4% during the 2nd quarter. First Bank & Trust now owns 13,191 shares of the technology company's stock worth $427,000 after purchasing an additional 306 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Extreme Networks by 13.2% in the second quarter. GAMMA Investing LLC now owns 4,001 shares of the technology company's stock valued at $130,000 after purchasing an additional 465 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Extreme Networks by 3.1% in the third quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company's stock valued at $470,000 after purchasing an additional 683 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Extreme Networks by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company's stock worth $426,000 after buying an additional 735 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Extreme Networks by 7.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company's stock worth $166,000 after buying an additional 735 shares during the period. Institutional investors own 91.05% of the company's stock.

Extreme Networks Company Profile

Extreme Networks, Inc NASDAQ: EXTR is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company's product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme's Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.