11 Jan CTO Jonathan Cartu Announced – Extreme Networks (NASDAQ:EXTR) Raised to Buy at BidaskClub
EXTR has been the topic of a number of other reports. ValuEngine raised shares of Extreme Networks from a sell rating to a hold rating in a research report on Thursday, October 31st. Zacks Investment Research cut Extreme Networks from a buy rating to a hold rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $10.08.
Shares of EXTR stock opened at $7.28 on Wednesday. The company has a market cap of $885.01 million, a P/E ratio of 56.00 and a beta of 1.67. Extreme Networks has a fifty-two week low of $5.37 and a fifty-two week high of $8.59. The stock has a 50 day simple moving average of $7.14 and a two-hundred day simple moving average of $7.09. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.86 and a current ratio of 1.06.
Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $253.26 million. During the same period last year, the business earned $0.08 EPS. Extreme Networks’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts predict that Extreme Networks will post 0.36 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC purchased a new position in Extreme Networks during the 2nd quarter valued at about $27,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Extreme Networks in the second quarter valued at approximately $46,000. Westwood Holdings Group Inc. purchased a new position in Extreme Networks during the second quarter valued at approximately $65,000. Tyers Asset Management LLC grew its stake in Extreme Networks by 28.8% during the second quarter. Tyers Asset Management LLC now owns 13,792 shares of the technology company’s stock valued at $89,000 after acquiring an additional 3,088 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its stake in Extreme Networks by 28.8% during the second quarter. Riverhead Capital Management LLC now owns 15,200 shares of the technology company’s stock valued at $98,000 after acquiring an additional 3,400 shares in the last quarter. 80.99% of the stock is owned by institutional investors and hedge funds.
About Extreme Networks
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.
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