Extreme Networks, Inc (NASDAQ:EXTR) has received a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $5.50.
A number of equities analysts have issued reports on the company. Lake Street Capital increased their price target on Extreme Networks from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. ValuEngine cut Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. JMP Securities dropped their price objective on Extreme Networks from $9.00 to $6.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 9th. Needham & Company LLC restated a “hold” rating on shares of Extreme Networks in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. assumed coverage on Extreme Networks in a research note on Tuesday, April 14th. They set a “neutral” rating on the stock.
In related news, Director John C. Shoemaker purchased 50,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $5.11 per share, with a total value of $255,500.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward H. Kennedy purchased 10,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was bought at an average cost of $3.60 per share, for a total transaction of $36,000.00. Following the completion of the purchase, the director now directly owns 405,866 shares in the company, valued at $1,461,117.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 210,000 shares of company stock valued at $892,934 in the last ninety days. Insiders own 2.62% of the company’s stock.
Shares of EXTR stock traded up $0.17 on Tuesday, reaching $4.30. The company had a trading volume of 1,173,300 shares, compared to its average volume of 1,688,550. The stock has a market capitalization of $496.46 million, a PE ratio of -4.22 and a beta of 1.65. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 27.66. Extreme Networks has a one year low of $1.43 and a one year high of $8.50. The business’s 50-day moving average is $3.90 and its 200 day moving average is $4.87.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Monday, May 11th. The technology company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The firm had revenue of $200.50 million during the quarter, compared to analysts’ expectations of $209.95 million. Extreme Networks had a negative net margin of 12.46% and a negative return on equity of 25.79%. The business’s revenue for the quarter was down 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. On average, sell-side analysts forecast that Extreme Networks will post -0.28 earnings per share for the current fiscal year.
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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