Analysts Set Extreme Networks, Inc. (NASDAQ:EXTR) Target Price at $18.58

Shares of Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.58.

Several research firms have issued reports on EXTR. UBS Group lowered their price target on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Lake Street Capital lowered 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. Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 price target on shares of Extreme Networks in a research report on Thursday, May 1st. Finally, Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Wednesday, April 30th.

Extreme Networks Trading Up 1.3%

EXTR traded up $0.20 during trading on Thursday, reaching $15.86. 125,819 shares of the company's stock were exchanged, compared to its average volume of 1,398,909. The firm has a fifty day moving average price of $13.29 and a two-hundred day moving average price of $15.35. The stock has a market capitalization of $2.11 billion, a PE ratio of -16.87, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67. Extreme Networks has a one year low of $10.10 and a one year high of $19.24. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $284.51 million during the quarter, compared to the consensus estimate of $280.32 million. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. Extreme Networks's quarterly revenue was up 34.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) earnings per share. As a group, equities research analysts forecast that Extreme Networks will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Extreme Networks by 397,835.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock worth $38,103,000 after purchasing an additional 2,275,619 shares during the period. Nuveen LLC bought a new position in Extreme Networks in the 1st quarter worth approximately $14,147,000. LMR Partners LLP purchased a new position in Extreme Networks in the 4th quarter valued at approximately $16,573,000. JPMorgan Chase & Co. raised its holdings in Extreme Networks by 312.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock valued at $20,078,000 after acquiring an additional 908,336 shares during the period. Finally, Penn Capital Management Company LLC bought a new position in shares of Extreme Networks in the fourth quarter worth $14,229,000. Hedge funds and other institutional investors own 91.05% of the company's stock.

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.