BidaskClub upgraded shares of Extreme Networks (NASDAQ:EXTR) from a hold rating to a buy rating in a research report report published on Wednesday morning.
Other research analysts have also issued reports about the company. DA Davidson dropped their target price on Extreme Networks to $13.00 and set a buy rating on the stock in a research report on Thursday, August 9th. TheStreet downgraded Extreme Networks from a c- rating to a d+ rating in a research note on Wednesday, September 12th. Needham & Company LLC downgraded Extreme Networks from a buy rating to a hold rating in a research note on Wednesday, August 8th. ValuEngine upgraded Extreme Networks from a sell rating to a hold rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded Extreme Networks from a sell rating to a hold rating in a research note on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $10.70.
EXTR stock traded down $0.10 during mid-day trading on Wednesday, hitting $6.57. The stock had a trading volume of 1,692,541 shares, compared to its average volume of 2,098,443. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.23 and a quick ratio of 1.01. Extreme Networks has a 1-year low of $4.81 and a 1-year high of $15.55. The firm has a market cap of $775.11 million, a P/E ratio of 14.93, a PEG ratio of 1.42 and a beta of 0.90.
Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Friday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. Extreme Networks had a positive return on equity of 35.66% and a negative net margin of 5.96%. The company had revenue of $239.89 million for the quarter, compared to analyst estimates of $233.36 million. During the same period in the prior year, the firm posted $0.16 EPS. The business’s revenue was up 13.3% compared to the same quarter last year. As a group, research analysts expect that Extreme Networks will post 0.33 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Extreme Networks by 5.7% during the 2nd quarter. BlackRock Inc. now owns 15,963,564 shares of the technology company’s stock valued at $127,071,000 after purchasing an additional 855,965 shares during the period. United Services Automobile Association boosted its stake in Extreme Networks by 31.9% during the 2nd quarter. United Services Automobile Association now owns 782,785 shares of the technology company’s stock valued at $6,231,000 after purchasing an additional 189,463 shares during the period. BlueMountain Capital Management LLC boosted its stake in Extreme Networks by 8,273.7% during the 2nd quarter. BlueMountain Capital Management LLC now owns 50,996 shares of the technology company’s stock valued at $406,000 after purchasing an additional 50,387 shares during the period. Principal Financial Group Inc. boosted its stake in Extreme Networks by 1,163.6% during the 1st quarter. Principal Financial Group Inc. now owns 967,304 shares of the technology company’s stock valued at $10,708,000 after purchasing an additional 890,753 shares during the period. Finally, Raymond James Trust N.A. bought a new stake in Extreme Networks during the 2nd quarter valued at approximately $141,000. Institutional investors own 80.98% of the company’s stock.
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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