Extreme Networks, Inc. (NASDAQ:EXTR) Receives Consensus Recommendation of "Hold" from Analysts

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) has earned an average recommendation of "Hold" from the seven research firms that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $22.36.

EXTR has been the subject of several research analyst reports. Rosenblatt Securities downgraded shares of Extreme Networks from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $19.00 to $15.00 in a report on Thursday, February 1st. B. Riley reduced their price objective on shares of Extreme Networks from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, February 1st. StockNews.com downgraded shares of Extreme Networks from a "buy" rating to a "hold" rating in a report on Thursday, February 1st. UBS Group downgraded shares of Extreme Networks from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $22.00 to $14.00 in a report on Thursday, February 1st. Finally, Needham & Company LLC dropped their price target on shares of Extreme Networks from $23.00 to $16.50 and set a "buy" rating on the stock in a research report on Thursday, February 1st.

Extreme Networks Stock Performance

Shares of EXTR traded up $0.18 during midday trading on Wednesday, hitting $11.37. 1,216,658 shares of the stock traded hands, compared to its average volume of 2,137,618. Extreme Networks has a 1-year low of $11.11 and a 1-year high of $32.73. The firm has a market capitalization of $1.46 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 4.10 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. The business's 50 day moving average price is $12.43 and its two-hundred day moving average price is $16.71.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. The firm had revenue of $296.38 million for the quarter, compared to analyst estimates of $295.50 million. Equities research analysts predict that Extreme Networks will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of the business's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $13.24, for a total transaction of $376,585.32. Following the sale, the chief executive officer now owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.32% of the company's stock.

Institutional Trading of Extreme Networks

Several institutional investors and hedge funds have recently bought and sold shares of EXTR. BlackRock Inc. increased its holdings in shares of Extreme Networks by 4.2% in the 1st quarter. BlackRock Inc. now owns 18,666,486 shares of the technology company's stock valued at $356,903,000 after purchasing an additional 751,645 shares during the period. Vanguard Group Inc. grew its stake in shares of Extreme Networks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,989,988 shares of the technology company's stock valued at $229,143,000 after buying an additional 94,881 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Extreme Networks by 24.0% in the 1st quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company's stock valued at $134,986,000 after buying an additional 2,141,000 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Extreme Networks by 0.6% in the 2nd quarter. State Street Corp now owns 4,585,885 shares of the technology company's stock valued at $119,462,000 after buying an additional 29,304 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.