Extreme Networks (NASDAQ:EXTR) Price Target Cut to $13.00

Extreme Networks (NASDAQ:EXTR - Get Free Report) had its price target decreased by equities research analysts at Craig Hallum from $15.00 to $13.00 in a report released on Thursday, Benzinga reports. The firm presently has a "hold" rating on the technology company's stock. Craig Hallum's price target suggests a potential upside of 13.84% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. UBS Group downgraded shares of Extreme Networks from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. StockNews.com downgraded shares of Extreme Networks from a "buy" rating to a "hold" rating in a research report on Thursday, February 1st. B. Riley upgraded shares of Extreme Networks from a "neutral" rating to a "buy" rating and set a $14.00 price target for the company in a research report on Monday, April 15th. Needham & Company LLC reiterated a "buy" rating and set a $16.50 price target on shares of Extreme Networks in a research report on Wednesday. Finally, Rosenblatt Securities upgraded shares of Extreme Networks from a "neutral" rating to a "buy" rating and lifted their price target for the company from $15.00 to $17.00 in a research report on Thursday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Extreme Networks has an average rating of "Hold" and an average target price of $20.50.

Extreme Networks Stock Performance

NASDAQ:EXTR traded down $0.03 during mid-day trading on Thursday, reaching $11.42. The stock had a trading volume of 5,009,130 shares, compared to its average volume of 2,128,992. 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 firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 3.99 and a beta of 1.88. Extreme Networks has a twelve month low of $10.57 and a twelve month high of $32.73. The business has a 50 day simple moving average of $11.57 and a 200 day simple moving average of $14.91.

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

Institutional Trading of Extreme Networks

Several hedge funds and other institutional investors have recently bought and sold shares of EXTR. Asset Management One Co. Ltd. purchased a new stake in Extreme Networks in the 3rd quarter worth approximately $37,000. Handelsbanken Fonder AB grew its stake in shares of Extreme Networks by 26.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 23,100 shares of the technology company's stock valued at $559,000 after buying an additional 4,900 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Extreme Networks during the 3rd quarter valued at $549,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Extreme Networks during the 3rd quarter valued at $339,000. Finally, Raymond James & Associates grew its stake in shares of Extreme Networks by 19.1% during the 3rd quarter. Raymond James & Associates now owns 518,825 shares of the technology company's stock valued at $12,561,000 after buying an additional 83,211 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

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.