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

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $18.92.

Several equities analysts have recently weighed in on the company. Rosenblatt Securities raised their price target on Extreme Networks from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, June 13th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. UBS Group dropped their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Lake Street Capital lowered their target price on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research report on Thursday, May 15th.

Extreme Networks Trading Up 1.0%

Shares of EXTR traded up $0.18 during mid-day trading on Friday, hitting $17.95. 1,271,679 shares of the company's stock traded hands, compared to its average volume of 1,236,608. The firm has a market capitalization of $2.39 billion, a P/E ratio of -43.78, a PEG ratio of 3.27 and a beta of 1.73. The business's 50-day moving average price is $15.62 and its 200-day moving average price is $15.37. Extreme Networks has a 1 year low of $10.10 and a 1 year 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.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $284.51 million for the quarter, compared to analysts' expectations of $280.32 million. During the same period in the prior year, the firm earned ($0.19) earnings per share. The firm's revenue for the quarter was up 34.8% on a year-over-year basis. As a group, sell-side analysts forecast that Extreme Networks will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, Director Raj Khanna sold 2,027 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 231,708 shares of the company's stock, valued at approximately $4,038,670.44. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total value of $490,504.25. Following the completion of the sale, the chief executive officer directly owned 1,510,719 shares in the company, valued at approximately $20,742,171.87. The trade was a 2.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,725 shares of company stock worth $662,970 over the last ninety days. Insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Extreme Networks

Large investors have recently bought and sold shares of the business. Sterling Capital Management LLC grew its stake in shares of Extreme Networks by 603.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock worth $32,000 after buying an additional 1,665 shares in the last quarter. Orion Capital Management LLC purchased a new position in Extreme Networks in the fourth quarter worth about $33,000. Smartleaf Asset Management LLC increased its stake in Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock worth $37,000 after acquiring an additional 1,733 shares during the last quarter. Quarry LP increased its stake in Extreme Networks by 42.1% during the fourth quarter. Quarry LP now owns 2,426 shares of the technology company's stock worth $41,000 after acquiring an additional 719 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Extreme Networks by 105.6% during the first quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock valued at $42,000 after purchasing an additional 1,628 shares during the period. Institutional investors own 91.05% of the company's stock.

About Extreme Networks

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.