12 Aug CFO Jonathan Cartu Writes – Extreme Networks (NASDAQ:EXTR) Stock Rating Upgraded by…
Several other equities analysts have also commented on the company. ValuEngine upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Lake Street Capital started coverage on Extreme Networks in a research note on Monday, July 29th. They issued a “buy” rating and a $9.00 target price for the company. Finally, Zacks Investment Research upgraded Extreme Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Extreme Networks currently has a consensus rating of “Buy” and an average price target of $10.33.
NASDAQ EXTR traded down $0.19 during trading on Thursday, reaching $7.91. The company’s stock had a trading volume of 6,773 shares, compared to its average volume of 1,286,328. The company has a market capitalization of $969.04 million, a PE ratio of 60.92 and a beta of 1.61. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.24 and a quick ratio of 1.06. The stock has a fifty day moving average of $6.93. Extreme Networks has a one year low of $4.81 and a one year high of $8.59.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $252.40 million for the quarter, compared to analyst estimates of $244.72 million. Extreme Networks had a positive return on equity of 10.98% and a negative net margin of 2.60%. The company’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. As a group, equities analysts forecast that Extreme Networks will post 0.11 earnings per share for the current year.
In related news, insider Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.22, for a total transaction of $822,000.00. Following the completion of the transaction, the insider now owns 482,416 shares of the company’s stock, valued at approximately $3,965,459.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.45% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. Trexquant Investment LP lifted its stake in Extreme Networks by 434.1% in the 2nd quarter. Trexquant Investment LP now owns 149,758 shares of the technology company’s stock worth $969,000 after purchasing an additional 121,718 shares in the last quarter. Atria Investments LLC purchased a new position in Extreme Networks in the 2nd quarter worth approximately $154,000. Prudential Financial Inc. lifted its stake in Extreme Networks by 74.7% in the 2nd quarter. Prudential Financial Inc. now owns 961,082 shares of the technology company’s stock worth $6,218,000 after purchasing an additional 410,903 shares in the last quarter. Paradigm Capital Management Inc. NY increased its holdings in shares of Extreme Networks by 0.6% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 6,778,800 shares of the technology company’s stock worth $43,859,000 after buying an additional 38,500 shares during the last quarter. Finally, Menta Capital LLC increased its holdings in shares of Extreme Networks by 565.5% during the 2nd quarter. Menta Capital LLC now owns 117,706 shares of the technology company’s stock worth $762,000 after buying an additional 100,018 shares during the last quarter. 81.18% of the stock is owned by institutional investors and hedge funds.
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: What are retained earnings?
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