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

Needham & Company LLC restated their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $16.50 target price on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. 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 report on Monday, April 15th. StockNews.com downgraded shares of Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. UBS Group downgraded shares of Extreme Networks from a buy rating to a neutral rating and cut their price target for the company from $22.00 to $14.00 in a report on Thursday, February 1st. TheStreet cut shares of Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. Finally, Rosenblatt Securities cut shares of Extreme Networks from a buy rating to a neutral rating and lowered their price objective for the company from $19.00 to $15.00 in a research report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Extreme Networks currently has an average rating of Hold and an average price target of $22.36.

Extreme Networks Stock Performance

Extreme Networks stock opened at $11.45 on Wednesday. The company’s 50-day moving average price is $11.57 and its 200-day moving average price is $14.91. Extreme Networks has a twelve month low of $10.57 and a twelve month high of $32.73. 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 company has a market cap of $1.47 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 4.12 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). The firm had revenue of $296.38 million for the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. On average, equities research analysts forecast that Extreme Networks will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Extreme Networks

Several hedge funds have recently modified their holdings of EXTR. Allworth Financial LP lifted its position in shares of Extreme Networks by 4,924.4% in the 4th quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock worth $36,000 after purchasing an additional 2,019 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of Extreme Networks in the 3rd quarter worth approximately $37,000. Tucker Asset Management LLC purchased a new stake in shares of Extreme Networks in the 3rd quarter worth approximately $41,000. Hennessy Advisors Inc. purchased a new stake in shares of Extreme Networks in the 4th quarter worth approximately $82,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Extreme Networks in the 3rd quarter worth approximately $91,000. 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.