Extreme Networks (NASDAQ:EXTR) Upgraded to “Buy” by B. Riley

B. Riley upgraded shares of Extreme Networks (NASDAQ:EXTR) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat reports. The firm currently has $14.00 target price on the technology company’s stock.

Other analysts also recently issued reports about the company. TheStreet lowered Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. StockNews.com cut Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. Rosenblatt Securities lowered shares of Extreme Networks from a buy rating to a neutral rating and lowered their price target for the stock from $19.00 to $15.00 in a report on Thursday, February 1st. Needham & Company LLC reduced their price objective on shares of Extreme Networks from $23.00 to $16.50 and set a buy rating on the stock in a research note on Thursday, February 1st. Finally, UBS Group downgraded shares of Extreme Networks from a buy rating to a neutral rating and lowered their target price for the stock from $22.00 to $14.00 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. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $22.36.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $10.94 on Monday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 3.97 and a beta of 1.90. 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 quick ratio of 0.74 and a current ratio of 1.02. The stock has a fifty day moving average price of $11.77 and a 200-day moving average price of $15.80.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $295.50 million. As a group, equities analysts anticipate that Extreme Networks will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 28,443 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total transaction 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 approximately $14,956,049.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Extreme Networks

Several hedge funds and other institutional investors have recently modified their holdings of EXTR. Narus Financial Partners LLC purchased a new stake in shares of Extreme Networks in the first quarter worth $130,000. Mirador Capital Partners LP increased its stake in Extreme Networks by 68.1% in the 1st quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock worth $2,850,000 after acquiring an additional 100,075 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Extreme Networks in the 1st quarter valued at about $256,000. Hennessy Advisors Inc. purchased a new position in shares of Extreme Networks during the fourth quarter worth about $82,000. Finally, Vanguard Group Inc. increased its position in shares of Extreme Networks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,989,988 shares of the technology company’s stock worth $229,143,000 after purchasing an additional 94,881 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

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.