Extreme Networks (NASDAQ:EXTR) Upgraded to Buy by Rosenblatt Securities

Extreme Networks (NASDAQ:EXTR) was upgraded by Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a $17.00 price objective on the technology company’s stock, up from their prior price objective of $15.00. Rosenblatt Securities’ price objective indicates a potential upside of 48.47% from the company’s current price.

A number of other research analysts have also recently issued reports on EXTR. B. Riley raised Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Monday, April 15th. TheStreet lowered Extreme Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. UBS Group downgraded Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Extreme Networks has a consensus rating of “Hold” and an average target price of $22.64.

Extreme Networks Stock Up 2.2 %

EXTR opened at $11.45 on Thursday. The business’s fifty day simple moving average is $11.57 and its 200 day simple moving average is $14.91. Extreme Networks has a 52 week low of $10.57 and a 52 week high of $32.73. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The stock has a market cap of $1.47 billion, a PE ratio of 19.08, a P/E/G ratio of 3.99 and a beta of 1.88.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). The firm had revenue of $296.38 million for the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. As a group, research analysts expect that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors have recently bought and sold shares of EXTR. Meritage Portfolio Management raised its holdings in Extreme Networks by 5.5% in the third quarter. Meritage Portfolio Management now owns 12,341 shares of the technology company’s stock worth $299,000 after purchasing an additional 638 shares in the last quarter. Westover Capital Advisors LLC lifted its holdings in shares of Extreme Networks by 0.4% during the third quarter. Westover Capital Advisors LLC now owns 161,860 shares of the technology company’s stock valued at $3,919,000 after purchasing an additional 716 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Extreme Networks by 0.3% in the 3rd quarter. Nordea Investment Management AB now owns 228,483 shares of the technology company’s stock worth $5,596,000 after purchasing an additional 779 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Extreme Networks by 3.9% in the 4th quarter. Handelsbanken Fonder AB now owns 24,000 shares of the technology company’s stock worth $423,000 after buying an additional 900 shares during the last quarter. Finally, SkyView Investment Advisors LLC increased its position in Extreme Networks by 2.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 55,274 shares of the technology company’s stock valued at $1,338,000 after buying an additional 1,374 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.