Extreme Networks (NASDAQ:EXTR) Upgraded by Rosenblatt Securities to “Buy”

Rosenblatt Securities upgraded shares of Extreme Networks (NASDAQ:EXTR) from a neutral rating to a buy rating in a report issued on Thursday morning, MarketBeat.com reports. They currently have $17.00 price objective on the technology company’s stock, up from their previous price objective of $15.00.

Several other research analysts have also recently commented on the stock. Needham & Company LLC reiterated a buy rating and set a $16.50 price target on shares of Extreme Networks in a report on Wednesday. StockNews.com lowered Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. TheStreet downgraded Extreme Networks from a b- rating to a c+ rating in a report on Tuesday, February 20th. B. Riley raised Extreme Networks from a neutral rating to a buy rating and set a $14.00 price objective for the company in a research report on Monday, April 15th. Finally, UBS Group downgraded shares of Extreme Networks from a buy rating to a neutral rating and reduced their price objective for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $20.50.

Extreme Networks Price Performance

NASDAQ:EXTR opened at $11.20 on Thursday. The stock has a fifty day moving average price of $11.52 and a 200 day moving average price of $14.80. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 2.78. Extreme Networks has a 12-month low of $10.57 and a 12-month high of $32.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company had revenue of $296.38 million for the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. Equities analysts expect that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EXTR. Asset Management One Co. Ltd. purchased a new position in Extreme Networks in the 3rd quarter valued at $37,000. Tucker Asset Management LLC acquired a new stake in Extreme Networks in the third quarter valued at about $41,000. Allworth Financial LP increased its position in Extreme Networks by 4,924.4% during 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. Harvest Fund Management Co. Ltd purchased a new position in shares of Extreme Networks during the 3rd quarter worth approximately $91,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Extreme Networks by 53.1% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,980 shares of the technology company’s stock valued at $97,000 after buying an additional 1,380 shares in the last quarter. 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.