Extreme Networks (NASDAQ:EXTR) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Extreme Networks (NASDAQ:EXTR) had its price objective upped by investment analysts at Rosenblatt Securities from $21.00 to $22.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 39.51% from the stock’s current price.

Several other research analysts also recently weighed in on EXTR. B. Riley upped their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Craig Hallum upped their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.90.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $15.77 on Thursday. Extreme Networks has a fifty-two week low of $10.49 and a fifty-two week high of $19.24. The business has a 50-day simple moving average of $17.19 and a two-hundred day simple moving average of $15.59. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -16.26, a price-to-earnings-growth ratio of 3.76 and a beta of 1.75.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. On average, analysts expect that Extreme Networks will post 0.27 earnings per share for the current year.

Insider Activity

In related news, Director Charles Carinalli sold 5,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the sale, the director now directly owns 366,793 shares in the company, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,725 shares of company stock worth $698,246. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Extreme Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its stake in shares of Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after buying an additional 3,399,288 shares during the period. Portolan Capital Management LLC increased its stake in shares of Extreme Networks by 194.6% during the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after buying an additional 700,724 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Extreme Networks by 265.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock valued at $9,839,000 after buying an additional 531,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Extreme Networks by 57.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock valued at $11,097,000 after buying an additional 269,459 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of Extreme Networks by 42.9% during the second quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock valued at $11,507,000 after buying an additional 256,765 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

About Extreme Networks

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.