18 Jan Pres. Jon Cartu Announced – Extreme Networks, Inc (NASDAQ:EXTR) Receives Average…
Shares of Extreme Networks, Inc (NASDAQ:EXTR) have received an average recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $11.00.
Several analysts have commented on the company. Zacks Investment Research cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded Extreme Networks from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, BidaskClub cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, December 27th.
EXTR stock traded down $0.09 during trading on Friday, hitting $7.28. The stock had a trading volume of 1,028,601 shares, compared to its average volume of 1,015,741. The company’s 50 day moving average price is $7.12 and its two-hundred day moving average price is $7.09. Extreme Networks has a 1-year low of $5.37 and a 1-year high of $8.59. The stock has a market cap of $898.38 million, a price-to-earnings ratio of 56.00 and a beta of 1.67. 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 posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $255.51 million during the quarter, compared to analysts’ expectations of $253.26 million. Extreme Networks had a positive return on equity of 10.49% and a negative net margin of 5.39%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS. As a group, sell-side analysts forecast that Extreme Networks will post 0.36 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Texas Permanent School Fund grew its holdings in shares of Extreme Networks by 2.0% during the 3rd quarter. Texas Permanent School Fund now owns 82,204 shares of the technology company’s stock worth $598,000 after purchasing an additional 1,608 shares during the period. Ellington Management Group LLC lifted its position in Extreme Networks by 7.5% during the 2nd quarter. Ellington Management Group LLC now owns 33,100 shares of the technology company’s stock worth $214,000 after acquiring an additional 2,300 shares in the last quarter. Bank of America Corp DE lifted its position in Extreme Networks by 1.0% during the 2nd quarter. Bank of America Corp DE now owns 228,009 shares of the technology company’s stock worth $1,475,000 after acquiring an additional 2,324 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its position in Extreme Networks by 7.3% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 36,946 shares of the technology company’s stock worth $269,000 after acquiring an additional 2,509 shares in the last quarter. Finally, Comerica Bank lifted its position in Extreme Networks by 2.4% during the 3rd quarter. Comerica Bank now owns 113,142 shares of the technology company’s stock worth $810,000 after acquiring an additional 2,608 shares in the last quarter. Institutional investors and hedge funds own 80.99% 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.
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