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

Shares of Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.92.

EXTR has been the subject of a number of research reports. Lake Street Capital decreased their price objective on Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research report 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. UBS Group decreased their price objective on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Rosenblatt Securities raised their price objective 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, Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, May 15th.

Insider Activity

In other news, Director Raj Khanna sold 2,027 shares of Extreme Networks stock in a transaction dated 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 now directly owns 231,708 shares in the company, valued at $4,038,670.44. The trade was a 0.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated 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 owns 1,510,719 shares of the company's stock, valued at approximately $20,742,171.87. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,725 shares of company stock worth $662,970 in the last three months. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Quarry LP raised its stake in shares of Extreme Networks by 42.1% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after acquiring an additional 719 shares in the last quarter. Ironwood Investment Management LLC raised its stake in shares of Extreme Networks by 0.7% in the 4th quarter. Ironwood Investment Management LLC now owns 107,741 shares of the technology company's stock valued at $1,804,000 after acquiring an additional 782 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Extreme Networks by 2.4% in the 4th quarter. Arizona State Retirement System now owns 38,299 shares of the technology company's stock valued at $641,000 after acquiring an additional 881 shares in the last quarter. Vestcor Inc raised its stake in shares of Extreme Networks by 4.6% in the 1st quarter. Vestcor Inc now owns 22,462 shares of the technology company's stock valued at $297,000 after acquiring an additional 988 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its stake in shares of Extreme Networks by 9.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,490 shares of the technology company's stock valued at $226,000 after acquiring an additional 1,182 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Extreme Networks Trading Up 1.0%

NASDAQ:EXTR opened at $17.97 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 2.33. Extreme Networks has a 1-year low of $10.10 and a 1-year high of $19.24. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -43.83, a price-to-earnings-growth ratio of 3.27 and a beta of 1.73. The stock has a fifty day simple moving average of $15.36 and a 200 day simple moving average of $15.41.

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 analysts' consensus estimates of $0.19 by $0.02. Extreme Networks had a positive return on equity of 13.79% and a negative net margin of 4.94%. The business had revenue of $284.51 million during the quarter, compared to analyst estimates of $280.32 million. During the same quarter last year, the company posted ($0.19) EPS. Extreme Networks's revenue for the quarter was up 34.8% on a year-over-year basis. Sell-side analysts forecast that Extreme Networks will post 0.31 earnings per share for the current 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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