Extreme Networks (NASDAQ:EXTR) Downgraded to Buy at StockNews.com

StockNews.com lowered shares of Extreme Networks (NASDAQ:EXTRGet Rating) from a strong-buy rating to a buy rating in a research note published on Tuesday morning.

A number of other brokerages also recently issued reports on EXTR. B. Riley increased their price target on shares of Extreme Networks from $17.00 to $18.00 in a report on Thursday, July 28th. Westpark Capital started coverage on shares of Extreme Networks in a research report on Tuesday, September 13th. They set a buy rating on the stock. Needham & Company LLC lifted their price objective on shares of Extreme Networks from $13.50 to $14.50 and gave the company a buy rating in a research note on Thursday, July 28th. Finally, Rosenblatt Securities lifted their price target on shares of Extreme Networks to $20.00 in a research note on Monday, August 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $17.38.

Extreme Networks Trading Down 0.8 %

Shares of Extreme Networks stock opened at $13.10 on Tuesday. Extreme Networks has a 1 year low of $8.49 and a 1 year high of $16.60. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.98 and a quick ratio of 0.88. The firm has a fifty day moving average price of $13.11 and a 200 day moving average price of $11.37. The stock has a market cap of $1.72 billion, a PE ratio of 38.53 and a beta of 2.05.

Extreme Networks (NASDAQ:EXTRGet Rating) last released its earnings results on Wednesday, July 27th. The technology company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. Extreme Networks had a net margin of 3.98% and a return on equity of 82.16%. The business had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $268.96 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts predict that Extreme Networks will post 0.68 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Joseph A. Vitalone sold 46,682 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $12.83, for a total value of $598,930.06. Following the completion of the sale, the executive now owns 44,979 shares of the company’s stock, valued at $577,080.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Extreme Networks news, CFO Remi Thomas sold 10,000 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $8.83, for a total transaction of $88,300.00. Following the sale, the chief financial officer now owns 94,454 shares in the company, valued at approximately $834,028.82. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Joseph A. Vitalone sold 46,682 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $12.83, for a total value of $598,930.06. Following the sale, the executive now owns 44,979 shares in the company, valued at approximately $577,080.57. The disclosure for this sale can be found here. Insiders sold 132,054 shares of company stock valued at $1,733,210 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of Extreme Networks

Several institutional investors and hedge funds have recently bought and sold shares of EXTR. Dimensional Fund Advisors LP grew its stake in shares of Extreme Networks by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 637,750 shares of the technology company’s stock valued at $10,013,000 after buying an additional 77,464 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Extreme Networks in the fourth quarter valued at approximately $1,712,000. Citigroup Inc. raised its stake in shares of Extreme Networks by 21.5% in the fourth quarter. Citigroup Inc. now owns 201,772 shares of the technology company’s stock valued at $3,168,000 after purchasing an additional 35,690 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Extreme Networks by 11.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,527,106 shares of the technology company’s stock valued at $23,977,000 after purchasing an additional 159,078 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Extreme Networks by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 2,549,083 shares of the technology company’s stock valued at $40,020,000 after purchasing an additional 134,503 shares in the last quarter. Institutional investors and hedge funds own 85.00% of the company’s stock.

About Extreme Networks

(Get Rating)

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.

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