Extreme Networks (EXTR) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Extreme Networks (NASDAQ:EXTR) from a hold rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $14.00 price target on the technology company’s stock.

According to Zacks, “Extreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs. “

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EXTR has been the subject of several other research reports. BidaskClub lowered shares of Extreme Networks from a strong-buy rating to a buy rating in a research note on Friday, February 16th. ValuEngine lowered shares of Extreme Networks from a buy rating to a hold rating in a research note on Friday, December 1st. JMP Securities initiated coverage on shares of Extreme Networks in a research note on Wednesday, January 3rd. They issued an outperform rating and a $16.00 price objective for the company. Cowen initiated coverage on shares of Extreme Networks in a research note on Wednesday, December 20th. They issued an outperform rating and a $16.00 price objective for the company. Finally, DA Davidson raised their price objective on shares of Extreme Networks from $16.00 to $17.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $16.25.

NASDAQ EXTR opened at $11.07 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. Extreme Networks has a one year low of $6.36 and a one year high of $15.55. The company has a market capitalization of $1,276.01, a PE ratio of 32.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.54.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Extreme Networks had a negative net margin of 2.72% and a positive return on equity of 44.24%. The business had revenue of $231.12 million during the quarter, compared to analyst estimates of $241.49 million. During the same quarter last year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 47.8% compared to the same quarter last year. equities research analysts anticipate that Extreme Networks will post 0.52 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Financial Gravity Companies Inc. acquired a new stake in Extreme Networks in the fourth quarter valued at approximately $146,000. SG Americas Securities LLC acquired a new stake in Extreme Networks in the third quarter valued at approximately $116,000. Suntrust Banks Inc. acquired a new stake in Extreme Networks in the fourth quarter valued at approximately $128,000. Xact Kapitalforvaltning AB acquired a new stake in Extreme Networks in the fourth quarter valued at approximately $153,000. Finally, Atria Investments LLC acquired a new stake in Extreme Networks in the fourth quarter valued at approximately $165,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

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Extreme Networks Company Profile

Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.

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