Extreme Networks, Inc. (EXTR) Receives $9.10 Consensus Price Target from Analysts

Extreme Networks, Inc. (NASDAQ:EXTR) has received an average recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.10.

Several brokerages recently commented on EXTR. ValuEngine raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Friday, August 18th. BidaskClub raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $12.50 target price (up previously from $9.50) on shares of Extreme Networks in a report on Friday, June 2nd.

Shares of Extreme Networks (NASDAQ EXTR) traded up 0.36% during trading on Tuesday, hitting $11.27. 853,639 shares of the company were exchanged. Extreme Networks has a 12 month low of $3.75 and a 12 month high of $11.74. The firm’s market capitalization is $1.24 billion. The firm’s 50-day moving average price is $10.03 and its 200 day moving average price is $8.72.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Monday, August 14th. The technology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. The company had revenue of $178.70 million during the quarter, compared to analysts’ expectations of $171.96 million. Extreme Networks had a positive return on equity of 43.34% and a negative net margin of 1.42%. Extreme Networks’s revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. On average, equities research analysts expect that Extreme Networks will post $0.70 earnings per share for the current fiscal year.

In other news, insider Edward Meyercord sold 65,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $10.10, for a total transaction of $656,500.00. Following the transaction, the insider now owns 563,034 shares of the company’s stock, valued at approximately $5,686,643.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kathleen M. Holmgren purchased 5,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the transaction, the director now owns 36,662 shares in the company, valued at approximately $421,246.38. The disclosure for this purchase can be found here. Insiders own 1.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank lifted its position in Extreme Networks by 10.9% in the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock valued at $130,000 after buying an additional 1,378 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Extreme Networks by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock valued at $124,000 after buying an additional 1,565 shares during the last quarter. Legal & General Group Plc lifted its position in Extreme Networks by 7.4% in the second quarter. Legal & General Group Plc now owns 26,483 shares of the technology company’s stock valued at $245,000 after buying an additional 1,819 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Extreme Networks by 7.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 30,500 shares of the technology company’s stock valued at $229,000 after buying an additional 2,000 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Extreme Networks by 12.5% in the first quarter. Nordea Investment Management AB now owns 27,088 shares of the technology company’s stock valued at $203,000 after buying an additional 3,000 shares during the last quarter. 81.87% of the stock is currently owned by institutional investors.

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About Extreme Networks

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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