BidaskClub upgraded shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a strong-buy rating in a research note published on Friday morning.
A number of other equities research analysts also recently commented on EXTR. Zacks Investment Research downgraded Extreme Networks from a buy rating to a hold rating in a research report on Wednesday. ValuEngine raised shares of Extreme Networks from a sell rating to a hold rating in a research note on Monday, December 31st. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $10.20.
Shares of NASDAQ:EXTR traded up $0.01 on Friday, reaching $6.34. 680,349 shares of the company traded hands, compared to its average volume of 1,506,744. Extreme Networks has a fifty-two week low of $4.81 and a fifty-two week high of $15.55. The company has a market capitalization of $747.89 million, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.37 and a beta of 0.83. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.06 and a current ratio of 1.23.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Friday, November 2nd. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. Extreme Networks had a positive return on equity of 35.66% and a negative net margin of 5.96%. The company had revenue of $239.89 million during the quarter, compared to the consensus estimate of $233.36 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, research analysts forecast that Extreme Networks will post 0.33 EPS for the current fiscal year.
In other Extreme Networks news, insider Edward Meyercord sold 99,859 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $6.34, for a total transaction of $633,106.06. Following the sale, the insider now directly owns 554,840 shares of the company’s stock, valued at approximately $3,517,685.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.45% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in EXTR. SG Americas Securities LLC raised its stake in Extreme Networks by 73.3% during the 2nd quarter. SG Americas Securities LLC now owns 78,809 shares of the technology company’s stock valued at $627,000 after purchasing an additional 33,343 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Extreme Networks by 9.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 896,587 shares of the technology company’s stock worth $7,137,000 after acquiring an additional 79,591 shares during the last quarter. BlackRock Inc. increased its stake in shares of Extreme Networks by 5.7% in the second quarter. BlackRock Inc. now owns 15,963,564 shares of the technology company’s stock worth $127,071,000 after acquiring an additional 855,965 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Extreme Networks by 6.8% in the second quarter. Legal & General Group Plc now owns 228,826 shares of the technology company’s stock worth $1,815,000 after acquiring an additional 14,484 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Extreme Networks by 925.2% in the second quarter. FMR LLC now owns 3,381,200 shares of the technology company’s stock worth $26,914,000 after acquiring an additional 3,051,400 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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