Lake Street Capital Issues Positive Forecast for Extreme Networks (NASDAQ:EXTR) Stock Price

Extreme Networks (NASDAQ:EXTR) had its price objective upped by stock analysts at Lake Street Capital from $15.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Lake Street Capital’s price target points to a potential upside of 2.56% from the company’s previous close.

EXTR has been the subject of a number of other reports. B. Riley lifted their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities increased their price target on Extreme Networks from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday. Finally, Craig Hallum increased their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.25.

Extreme Networks Price Performance

NASDAQ:EXTR traded down $0.17 during trading hours on Thursday, reaching $15.60. 1,983,842 shares of the company traded hands, compared to its average volume of 979,650. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The firm’s 50-day moving average is $17.19 and its 200-day moving average is $15.59. The stock has a market cap of $2.06 billion, a P/E ratio of -16.08, a P/E/G ratio of 3.76 and a beta of 1.75. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $19.24.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities research analysts expect that Extreme Networks will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,667,734.88. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the sale, the director now directly owns 366,793 shares of the company’s stock, valued at $6,125,443.10. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,725 shares of company stock valued at $698,246. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EXTR. State of Alaska Department of Revenue grew its stake in shares of Extreme Networks by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock valued at $1,257,000 after buying an additional 717 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after acquiring an additional 741 shares during the period. Andina Capital Management LLC grew its position in Extreme Networks by 4.1% in the third quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock valued at $307,000 after acquiring an additional 795 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Extreme Networks by 1.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company’s stock valued at $1,070,000 after purchasing an additional 900 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,035 shares during the period. Institutional investors and hedge funds 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.