Extreme Networks (NASDAQ:EXTR) Shares Up 3.3% - Should You Buy?

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report)'s share price rose 3.3% on Monday . The stock traded as high as $12.94 and last traded at $12.91. Approximately 571,515 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 1,453,508 shares. The stock had previously closed at $12.49.

Analyst Ratings Changes

A number of research analysts have commented on the company. Lake Street Capital upped their price target on Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. Finally, Rosenblatt Securities cut their price target on Extreme Networks from $22.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.50.

Extreme Networks Trading Up 4.5 %

The business's 50-day moving average price is $13.54 and its 200-day moving average price is $15.41. The firm has a market capitalization of $1.73 billion, a PE ratio of -13.89, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. As a group, analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its board has authorized a share repurchase program on Tuesday, February 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total transaction of $549,807.75. Following the completion of the transaction, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Extreme Networks

Institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its stake in Extreme Networks by 369.8% in the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock valued at $3,274,000 after purchasing an additional 171,500 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in Extreme Networks by 8.7% during the third quarter. SkyView Investment Advisors LLC now owns 101,439 shares of the technology company's stock worth $1,525,000 after acquiring an additional 8,131 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Extreme Networks in the 4th quarter worth approximately $267,000. First Hawaiian Bank acquired a new position in Extreme Networks in the 4th quarter valued at $411,000. Finally, Mirador Capital Partners LP lifted its stake in shares of Extreme Networks by 0.5% during the 4th quarter. Mirador Capital Partners LP now owns 367,197 shares of the technology company's stock worth $6,147,000 after purchasing an additional 1,873 shares during the period. 91.05% of the stock is owned by institutional investors and hedge funds.

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.

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