Shares of Extreme Networks, Inc (NASDAQ:EXTR) fell 3.5% on Tuesday . The company traded as low as $5.15 and last traded at $4.99. 69,297 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 2,260,407 shares. The stock had previously closed at $5.17.
A number of brokerages have recently commented on EXTR. BidaskClub lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. ValuEngine lowered shares of Extreme Networks from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 21st. Zacks Investment Research lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. Cowen lowered shares of Extreme Networks from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $16.00 to $6.50 in a research report on Thursday, August 9th. Finally, Needham & Company LLC lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $11.75.
The company has a market cap of $648.40 million, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.09 and a beta of 1.01. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 1.67.
Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, August 8th. The technology company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $278.30 million during the quarter, compared to the consensus estimate of $279.22 million. Extreme Networks had a negative net margin of 4.76% and a positive return on equity of 43.70%. Extreme Networks’s revenue was up 55.6% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. On average, research analysts forecast that Extreme Networks, Inc will post 0.36 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in EXTR. Usca Ria LLC acquired a new stake in Extreme Networks in the second quarter valued at approximately $102,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Extreme Networks during the second quarter worth $108,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Extreme Networks during the first quarter worth $135,000. Raymond James Trust N.A. acquired a new stake in shares of Extreme Networks during the second quarter worth $141,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Extreme Networks during the first quarter worth $148,000. Institutional investors own 81.09% of the company’s stock.
About Extreme Networks (NASDAQ:EXTR)
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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