Craig Hallum Cuts Extreme Networks (NASDAQ:EXTR) Price Target to $13.00

Extreme Networks (NASDAQ:EXTR) had its target price cut by Craig Hallum from $15.00 to $13.00 in a report issued on Thursday morning, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other brokerages also recently weighed in on EXTR. StockNews.com downgraded Extreme Networks from a buy rating to a hold rating in a research report on Thursday, February 1st. UBS Group cut Extreme Networks from a buy rating to a neutral rating and reduced their price target for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. TheStreet cut Extreme Networks from a b- rating to a c+ rating in a research note on Tuesday, February 20th. B. Riley raised Extreme Networks from a neutral rating to a buy rating and set a $14.00 target price on the stock in a report on Monday, April 15th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $16.50 price target on shares of Extreme Networks in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $20.50.

Extreme Networks Trading Down 1.9 %

EXTR traded down $0.22 during trading on Thursday, hitting $11.20. The company’s stock had a trading volume of 4,770,165 shares, compared to its average volume of 2,162,929. 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 twelve month low of $10.57 and a twelve month high of $32.73. The stock’s fifty day moving average price is $11.52 and its 200-day moving average price is $14.74. The firm has a market capitalization of $1.44 billion, a P/E ratio of -160.00, a PEG ratio of 3.99 and a beta of 1.88.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share (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 the consensus estimate of $295.50 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. Analysts anticipate that Extreme Networks will post 0.17 EPS for the current year.

Institutional Investors Weigh In On Extreme Networks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Extreme Networks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,989,988 shares of the technology company’s stock valued at $229,143,000 after purchasing an additional 94,881 shares in the last quarter. FMR LLC grew its position in shares of Extreme Networks by 32.0% during the third quarter. FMR LLC now owns 4,142,648 shares of the technology company’s stock worth $100,294,000 after buying an additional 1,004,002 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Extreme Networks by 167,176.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after purchasing an additional 3,407,064 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Extreme Networks by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,492,869 shares of the technology company’s stock worth $43,976,000 after purchasing an additional 194,802 shares during the last quarter. Finally, Voss Capital LLC lifted its stake in Extreme Networks by 55.6% in the fourth quarter. Voss Capital LLC now owns 2,170,500 shares of the technology company’s stock valued at $38,288,000 after buying an additional 775,500 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

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.