Needham & Company LLC Reaffirms Buy Rating for Extreme Networks (NASDAQ:EXTR)

Needham & Company LLC restated their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $16.50 target price on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. Rosenblatt Securities downgraded Extreme Networks from a buy rating to a neutral rating and dropped their price objective for the company from $19.00 to $15.00 in a research note on Thursday, February 1st. UBS Group downgraded Extreme Networks from a buy rating to a neutral rating and dropped their target price for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. B. Riley upgraded Extreme Networks from a neutral rating to a buy rating and set a $14.00 target price on the stock in a research report on Monday, April 15th. StockNews.com downgraded Extreme Networks from a buy rating to a hold rating in a research report on Thursday, February 1st. Finally, TheStreet downgraded Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $20.50.

Extreme Networks Price Performance

Extreme Networks stock opened at $11.20 on Wednesday. Extreme Networks has a 12 month low of $10.57 and a 12 month high of $32.73. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 2.78. The business’s 50 day simple moving average is $11.52 and its 200 day simple moving average is $14.80. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -160.00, a PEG ratio of 4.08 and a beta of 1.88.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. The firm had revenue of $296.38 million during the quarter, compared to analysts’ expectations of $295.50 million. Sell-side analysts forecast that Extreme Networks will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new position in Extreme Networks in the third quarter valued at $37,000. Tucker Asset Management LLC bought a new position in Extreme Networks in the third quarter valued at $41,000. Allworth Financial LP increased its stake in Extreme Networks by 4,924.4% in the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after acquiring an additional 2,019 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Extreme Networks in the third quarter valued at $91,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Extreme Networks by 53.1% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,980 shares of the technology company’s stock valued at $97,000 after acquiring an additional 1,380 shares during the last quarter. Institutional investors 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.