Extreme Networks, Inc. (NASDAQ:EXTR) Receives $22.92 Average Price Target from Analysts

Key Points

• Extreme Networks, Inc. (NASDAQ:EXTR) has received a consensus rating of "Moderate Buy" from six brokerages, with five analysts recommending to buy and one suggesting to hold the stock.
• Recent analyst upgrades include Lake Street Capital raising its price target to $24.00 and Rosenblatt Securities increasing it to $25.00.
• Insiders have sold a total of 149,450 shares worth approximately $2.8 million in the last three months, indicating potential profit-taking actions among company executives.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $22.9167.

A number of analysts recently commented on the company. Needham & Company LLC lifted their price target on Extreme Networks from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Rosenblatt Securities lifted their price target on Extreme Networks from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. UBS Group lifted their price target on Extreme Networks from $15.00 to $21.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Lake Street Capital upgraded Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd.

Extreme Networks Stock Performance

Extreme Networks stock traded down $0.53 during mid-day trading on Wednesday, reaching $22.32. 1,247,000 shares of the company's stock were exchanged, compared to its average volume of 1,286,928. The business's fifty day simple moving average is $19.55 and its 200 day simple moving average is $16.46. The firm has a market capitalization of $2.97 billion, a PE ratio of -446.40, a P/E/G ratio of 2.34 and a beta of 1.84. Extreme Networks has a one year low of $10.10 and a one year high of $22.89. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 2.50.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.03. The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $299.88 million. Extreme Networks had a positive return on equity of 82.47% and a negative net margin of 0.65%.Extreme Networks's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. On average, sell-side analysts expect that Extreme Networks will post 0.31 earnings per share for the current year.

Insider Transactions at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 15,000 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $19.91, for a total value of $298,650.00. Following the sale, the director directly owned 216,708 shares in the company, valued at $4,314,656.28. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward H. Kennedy sold 25,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $20.01, for a total value of $500,250.00. Following the completion of the sale, the director owned 612,691 shares in the company, valued at approximately $12,259,946.91. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,450 shares of company stock valued at $2,838,234. Corporate insiders own 3.70% of the company's stock.

Institutional Trading of Extreme Networks

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Extreme Networks by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,325,419 shares of the technology company's stock valued at $242,445,000 after buying an additional 406,350 shares during the period. State Street Corp grew its position in shares of Extreme Networks by 0.4% in the second quarter. State Street Corp now owns 5,392,673 shares of the technology company's stock valued at $96,798,000 after purchasing an additional 24,120 shares in the last quarter. Paradigm Capital Management Inc. NY grew its position in shares of Extreme Networks by 0.7% in the first quarter. Paradigm Capital Management Inc. NY now owns 5,225,200 shares of the technology company's stock valued at $69,129,000 after purchasing an additional 35,400 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Extreme Networks by 13.9% in the first quarter. Victory Capital Management Inc. now owns 5,012,386 shares of the technology company's stock valued at $66,314,000 after purchasing an additional 611,462 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Extreme Networks by 21.7% in the second quarter. American Century Companies Inc. now owns 3,494,851 shares of the technology company's stock valued at $62,733,000 after purchasing an additional 622,953 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

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.