Rosenblatt Securities Issues Positive Forecast for Extreme Networks (NASDAQ:EXTR) Stock Price

Extreme Networks (NASDAQ:EXTR - Free Report) had its target price upped by Rosenblatt Securities from $18.00 to $20.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the technology company's stock.

EXTR has been the topic of a number of other reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, May 15th. UBS Group reduced their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research note 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. Finally, Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.92.

Extreme Networks Price Performance

Shares of EXTR stock traded up $0.66 on Friday, hitting $16.74. 905,923 shares of the company's stock were exchanged, compared to its average volume of 1,338,862. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a market cap of $2.23 billion, a P/E ratio of -17.81, a price-to-earnings-growth ratio of 3.06 and a beta of 1.73. Extreme Networks has a 12 month low of $10.10 and a 12 month high of $19.24. The company has a 50 day moving average of $14.38 and a 200 day moving average of $15.40.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $284.51 million for the quarter, compared to the consensus estimate of $280.32 million. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The firm's revenue was up 34.8% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS. On average, equities research analysts predict that Extreme Networks will post 0.31 EPS for the current year.

Extreme Networks announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,510,719 shares of the company's stock, valued at $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 available through this link. Company insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

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