Brokerages Set Extreme Networks, Inc. (NASDAQ:EXTR) PT at $22.36

Extreme Networks, Inc. (NASDAQ:EXTR) has earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $20.50.

EXTR has been the subject of a number of analyst reports. UBS Group lowered shares of Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $22.00 to $14.00 in a report on Thursday, February 1st. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a report on Wednesday. Rosenblatt Securities raised shares of Extreme Networks from a “neutral” rating to a “buy” rating and upped their price objective for the company from $15.00 to $17.00 in a report on Thursday. StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, TheStreet lowered shares of Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EXTR. Vanguard Group Inc. boosted its stake in shares of Extreme Networks by 17.0% in the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after purchasing an additional 1,877,727 shares during the period. Raymond James & Associates boosted its stake in shares of Extreme Networks by 4.1% in the fourth quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock valued at $9,526,000 after purchasing an additional 21,203 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Extreme Networks by 167,176.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after purchasing an additional 3,407,064 shares during the period. Knights of Columbus Asset Advisors LLC purchased a new position in shares of Extreme Networks in the fourth quarter valued at approximately $1,613,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Extreme Networks in the third quarter valued at approximately $31,284,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $11.20 on Friday. The firm has a 50-day simple moving average of $11.52 and a 200-day simple moving average of $14.74. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -160.00, a price-to-earnings-growth ratio of 4.07 and a beta of 1.88. The company has a quick ratio of 0.74, a current ratio of 0.96 and a debt-to-equity ratio of 2.78. Extreme Networks has a 52 week low of $10.57 and a 52 week high of $32.73.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The business had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. On average, equities analysts predict that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

Extreme Networks Company Profile

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.