03 Nov CEO Jonathan Cartu Says – ValuEngine Downgrades Extreme Networks (NASDAQ:EXTR) to…
Several other equities research analysts also recently commented on the company. BidaskClub downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Lake Street Capital started coverage on Extreme Networks in a research note on Monday, July 29th. They set a “buy” rating and a $9.00 price target for the company. Finally, Zacks Investment Research downgraded Extreme Networks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $10.00.
Shares of NASDAQ EXTR traded up $0.08 during trading on Monday, hitting $6.52. The stock had a trading volume of 2,827,200 shares, compared to its average volume of 1,320,800. The firm has a fifty day moving average of $7.30 and a two-hundred day moving average of $6.90. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $781.63 million, a PE ratio of 50.15 and a beta of 1.66. Extreme Networks has a 12 month low of $5.09 and a 12 month high of $8.59.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. Extreme Networks had a positive return on equity of 10.49% and a negative net margin of 5.39%. The company had revenue of $255.51 million during the quarter, compared to the consensus estimate of $253.26 million. During the same period last year, the company earned $0.08 EPS. Extreme Networks’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts expect that Extreme Networks will post 0.43 earnings per share for the current fiscal year.
In other Extreme Networks news, CRO Robert J. Gault sold 39,584 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.73, for a total transaction of $305,984.32. Following the completion of the sale, the executive now directly owns 294,797 shares in the company, valued at approximately $2,278,780.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.62% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new position in shares of Extreme Networks during the 2nd quarter valued at approximately $27,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Extreme Networks during the 2nd quarter valued at approximately $46,000. Westwood Holdings Group Inc. bought a new position in shares of Extreme Networks during the 2nd quarter valued at approximately $65,000. Bailard Inc. bought a new position in shares of Extreme Networks during the 2nd quarter valued at approximately $68,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Extreme Networks during the 2nd quarter valued at approximately $87,000. Institutional investors and hedge funds own 79.78% of the company’s stock.
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.
Further Reading: Conference Calls and Individual Investors
To view ValuEngine’s full report, visit ValuEngine’s official website.
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