Extreme Networks (NASDAQ:EXTR - Get Free Report) was upgraded by stock analysts at Lake Street Capital from a "hold" rating to a "buy" rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has a $24.00 price objective on the technology company's stock. Lake Street Capital's price target suggests a potential upside of 20.30% from the company's previous close.
A number of other equities research analysts have also recently commented on EXTR. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Rosenblatt Securities raised their price target on shares of Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday. UBS Group lowered 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 report on Thursday, May 1st. Finally, Needham & Company LLC boosted their price target on shares of Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $22.92.
Check Out Our Latest Research Report on Extreme Networks
Extreme Networks Trading Up 0.1%
NASDAQ EXTR traded up $0.01 during mid-day trading on Thursday, reaching $19.95. 1,698,452 shares of the stock were exchanged, compared to its average volume of 1,221,914. Extreme Networks has a one year low of $10.10 and a one year high of $21.34. The stock has a 50 day simple moving average of $17.55 and a 200-day simple moving average of $15.53. The stock has a market cap of $2.66 billion, a P/E ratio of -399.00, a P/E/G ratio of 2.35 and a beta of 1.75. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.91 and a quick ratio of 0.70.
Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.03. The business had revenue of $307.00 million during the quarter, compared to the consensus estimate of $299.88 million. Extreme Networks had a negative net margin of 0.65% and a positive return on equity of 82.47%. Extreme Networks's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, analysts anticipate that Extreme Networks will post 0.31 EPS for the current year.
Insider Buying and Selling
In other Extreme Networks news, Director Raj Khanna sold 7,973 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $17.20, for a total value of $137,135.60. Following the completion of the transaction, the director owned 233,735 shares of the company's stock, valued at $4,020,242. The trade was a 3.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $17.18, for a total transaction of $613,755.50. Following the completion of the transaction, the chief executive officer directly owned 1,541,282 shares of the company's stock, valued at approximately $26,479,224.76. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 81,450 shares of company stock valued at $1,436,774. Corporate insiders own 3.70% of the company's stock.
Institutional Investors Weigh In On Extreme Networks
A number of hedge funds have recently made changes to their positions in EXTR. Vanguard Group Inc. raised its holdings in Extreme Networks by 2.3% during the 1st 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 last quarter. Paradigm Capital Management Inc. NY raised its holdings in Extreme Networks by 0.7% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 5,225,200 shares of the technology company's stock valued at $69,129,000 after buying an additional 35,400 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Extreme Networks by 13.9% during the 1st quarter. Victory Capital Management Inc. now owns 5,012,386 shares of the technology company's stock valued at $66,314,000 after buying an additional 611,462 shares during the last quarter. Geode Capital Management LLC raised its holdings in Extreme Networks by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,191,820 shares of the technology company's stock valued at $57,301,000 after buying an additional 33,045 shares during the last quarter. Finally, Trigran Investments Inc. raised its holdings in Extreme Networks by 30.3% during the 1st quarter. Trigran Investments Inc. now owns 3,106,446 shares of the technology company's stock valued at $41,098,000 after buying an additional 722,121 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.
Extreme Networks Company Profile
(
Get Free Report)
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.
Further Reading

Before you consider Extreme Networks, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Extreme Networks wasn't on the list.
While Extreme Networks currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.