CTO Jonathan Cartu Says - Extreme Networks (NASDAQ:EXTR) Rating Lowered to Hold at... - Jonathan Cartu Computer Repair Consultant Services
1347
post-template-default,single,single-post,postid-1347,single-format-standard,qode-quick-links-1.0,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,qode-theme-ver-11.2,qode-theme-bridge,wpb-js-composer js-comp-ver-5.2.1,vc_responsive

CTO Jonathan Cartu Says – Extreme Networks (NASDAQ:EXTR) Rating Lowered to Hold at…

Extreme Networks logo

CTO Jonathan Cartu Says – Extreme Networks (NASDAQ:EXTR) Rating Lowered to Hold at…


Extreme Networks (NASDAQ:EXTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Extreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs. “

Several other brokerages have also recently commented on EXTR. ValuEngine raised Extreme Networks from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Lake Street Capital began coverage on Extreme Networks in a report on Monday, July 29th. They set a “buy” rating and a $9.00 target price on the stock. Finally, BidaskClub cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Extreme Networks presently has an average rating of “Hold” and an average price target of $10.00.

NASDAQ:EXTR traded up $0.24 during mid-day trading on Wednesday, reaching $6.94. The stock had a trading volume of 1,511,700 shares, compared to its average volume of 1,308,511. Extreme Networks has a 1-year low of $5.09 and a 1-year high of $8.59. The company has a market capitalization of $821.79 million, a price-to-earnings ratio of 53.38 and a beta of 1.66. The stock’s 50 day simple moving average is $7.17 and its two-hundred day simple moving average is $6.87. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.06 and a quick ratio of 0.86.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $255.51 million for the quarter, compared to analysts’ expectations of $253.26 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Extreme Networks will post 0.36 EPS for the current fiscal year.

In other Extreme Networks news, CRO Robert J. Gault sold 39,584 shares of Extreme Networks stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $7.73, for a total value of $305,984.32. Following the transaction, the executive now owns 294,797 shares in the company, valued at $2,278,780.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.62% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Atria Investments LLC acquired a new position in Extreme Networks in the second quarter worth approximately $154,000. D.A. Davidson & CO. grew its position in Extreme Networks by 5.3% in the second quarter. D.A. Davidson & CO. now owns 336,529 shares of the technology company’s stock worth $2,177,000 after buying an additional 16,896 shares during the last quarter. Prudential Financial Inc. grew its position in Extreme Networks by 74.7% in the second quarter. Prudential Financial Inc. now owns 961,082 shares of the technology company’s stock worth $6,218,000 after buying an additional 410,903 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in Extreme Networks in the second quarter worth approximately $456,000. Finally, Vanguard Group Inc. grew its position in Extreme Networks by 6.1% in the second quarter. Vanguard Group Inc. now owns 8,623,647 shares of the technology company’s stock worth $55,794,000 after buying an additional 498,962 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

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.

Read More: Capital Gains Distribution

Get a free copy of the Zacks research report on Extreme Networks (EXTR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Extreme Networks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Extreme Networks and related companies with MarketBeat.com’s FREE daily email newsletter.

[

Uninstall AiroAV

No Comments

Post A Comment