Extreme Networks (NASDAQ:EXTR) Stock Rating Upgraded by Rosenblatt Securities

Rosenblatt Securities upgraded shares of Extreme Networks (NASDAQ:EXTR - Free Report) from a neutral rating to a buy rating in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $17.00 price target on the technology company's stock, up from their previous price target of $15.00.

A number of other research firms also recently commented on EXTR. StockNews.com downgraded shares of Extreme Networks from a buy rating to a hold rating in a research note on Thursday, February 1st. Needham & Company LLC restated a buy rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Wednesday. TheStreet downgraded shares of Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. UBS Group downgraded shares of Extreme Networks from a buy rating to a neutral rating and reduced their price target for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. Finally, B. Riley upgraded shares of Extreme Networks from a neutral rating to a buy rating and set a $14.00 price target on the stock in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $20.50.

Extreme Networks Stock Down 0.3 %

EXTR traded down $0.03 during trading hours on Thursday, reaching $11.42. 5,009,130 shares of the stock traded hands, compared to its average volume of 2,128,992. The firm's fifty day simple moving average is $11.55 and its two-hundred day simple moving average is $14.88. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 3.99 and a beta of 1.88. Extreme Networks has a fifty-two week low of $10.57 and a fifty-two week high of $32.73. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.05). The firm had revenue of $296.38 million for 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%. As a group, analysts forecast that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Extreme Networks

Several large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in Extreme Networks by 101.8% during the 1st quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company's stock valued at $5,051,000 after buying an additional 220,763 shares during the period. SpiderRock Advisors LLC acquired a new position in Extreme Networks during the 1st quarter valued at about $204,000. Principal Financial Group Inc. increased its stake in Extreme Networks by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 782,241 shares of the technology company's stock valued at $9,027,000 after buying an additional 54,809 shares during the period. Horrell Capital Management Inc. acquired a new position in Extreme Networks during the 1st quarter valued at about $3,808,000. Finally, Wesbanco Bank Inc. acquired a new position in Extreme Networks during the 1st quarter valued at about $594,000. Institutional investors and hedge funds 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.