Extreme Networks (NASDAQ:EXTR) Receives "Buy" Rating from Needham & Company LLC

Extreme Networks (NASDAQ:EXTR - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $16.50 price target on the technology company's stock. Needham & Company LLC's price target indicates a potential upside of 44.10% from the company's previous close.

A number of other equities analysts also recently commented on EXTR. B. Riley raised Extreme Networks from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Monday, April 15th. UBS Group downgraded Extreme Networks from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. TheStreet downgraded Extreme Networks from a "b-" rating to a "c+" rating in a research report on Tuesday, February 20th. StockNews.com downgraded Extreme Networks from a "buy" rating to a "hold" rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities cut Extreme Networks from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $19.00 to $15.00 in a research note on Thursday, February 1st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $22.36.

Extreme Networks Trading Up 2.2 %

NASDAQ EXTR traded up $0.25 during trading on Wednesday, hitting $11.45. The stock had a trading volume of 4,940,597 shares, compared to its average volume of 2,102,031. The company has a market capitalization of $1.47 billion, a PE ratio of 19.08, a PEG ratio of 4.12 and a beta of 1.90. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The firm has a 50 day moving average price of $11.57 and a 200 day moving average price of $14.91. Extreme Networks has a twelve month low of $10.57 and a twelve month high of $32.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share 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 during the quarter, compared to analyst estimates of $295.50 million. As a group, equities research analysts forecast that Extreme Networks will post 0.17 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

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

Institutional Investors Weigh In On Extreme Networks

Large investors have recently modified their holdings of the stock. Asset Management One Co. Ltd. purchased a new stake in shares of Extreme Networks during the third quarter worth approximately $37,000. Tucker Asset Management LLC acquired a new position in Extreme Networks during the third quarter worth $41,000. Allworth Financial LP grew its holdings in Extreme Networks by 4,924.4% during the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company's stock worth $36,000 after acquiring an additional 2,019 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Extreme Networks during the third quarter worth $91,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Extreme Networks by 53.1% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,980 shares of the technology company's stock worth $97,000 after acquiring an additional 1,380 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

About Extreme Networks

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.