12 Sep Specialist Jon Cartu Publishes – Extreme Networks (NASDAQ:EXTR) Downgraded to “Hold” at…
A number of other research firms also recently weighed in on EXTR. Lake Street Capital started coverage on Extreme Networks in a research report on Monday, July 29th. They set a “buy” rating and a $9.00 target price for the company. Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “strong-buy” rating and set a $9.00 target price for the company in a research report on Tuesday, August 13th. Finally, ValuEngine cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Extreme Networks currently has a consensus rating of “Buy” and an average target price of $10.33.
Shares of Extreme Networks stock traded up $0.33 during trading on Wednesday, reaching $7.40. The company’s stock had a trading volume of 949,453 shares, compared to its average volume of 1,313,375. The firm has a market cap of $860.56 million, a price-to-earnings ratio of 56.92 and a beta of 1.64. The business’s fifty day moving average price is $7.33 and its 200-day moving average price is $7.02. Extreme Networks has a one year low of $4.81 and a one year high of $8.59. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.06 and a current ratio of 1.24.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Extreme Networks had a positive return on equity of 10.98% and a negative net margin of 2.60%. The firm had revenue of $252.40 million for the quarter, compared to analysts’ expectations of $244.72 million. During the same period in the prior year, the business posted $0.20 earnings per share. The business’s revenue was down 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Extreme Networks will post 0.43 EPS for the current year.
In other Extreme Networks news, insider Edward Meyercord sold 100,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.22, for a total value of $822,000.00. Following the completion of the sale, the insider now owns 482,416 shares in the company, valued at $3,965,459.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.45% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in Extreme Networks by 438.4% during the first quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock worth $26,000 after buying an additional 2,823 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Extreme Networks during the 2nd quarter worth $27,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Extreme Networks in the second quarter valued at about $46,000. Westwood Holdings Group Inc. bought a new position in shares of Extreme Networks in the second quarter worth about $65,000. Finally, Bailard Inc. bought a new stake in shares of Extreme Networks during the 2nd quarter valued at approximately $68,000. 80.80% of the stock is owned by institutional investors.
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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