Analysts Issue Forecasts for Extreme Networks, Inc.’s Q3 2018 Earnings (EXTR)

Extreme Networks, Inc. (NASDAQ:EXTR) – Equities research analysts at DA Davidson lifted their Q3 2018 earnings per share (EPS) estimates for shares of Extreme Networks in a research report issued on Wednesday. DA Davidson analyst M. Kelleher now expects that the technology company will earn $0.14 per share for the quarter, up from their prior estimate of $0.13. DA Davidson also issued estimates for Extreme Networks’ FY2018 earnings at $0.52 EPS, Q1 2019 earnings at $0.15 EPS and Q4 2019 earnings at $0.27 EPS.

A number of other equities analysts have also weighed in on EXTR. ValuEngine upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Extreme Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub upgraded shares of Extreme Networks from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Craig Hallum reaffirmed a “buy” rating and set a $17.00 price target (up previously from $12.50) on shares of Extreme Networks in a research report on Wednesday. Finally, Needham & Company LLC increased their target price on Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Extreme Networks presently has a consensus rating of “Buy” and a consensus target price of $13.25.

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Shares of Extreme Networks (NASDAQ EXTR) traded down $0.19 during trading hours on Friday, hitting $11.24. 1,455,300 shares of the company were exchanged, compared to its average volume of 1,521,177. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 0.75. Extreme Networks has a fifty-two week low of $4.17 and a fifty-two week high of $13.20. The firm has a market capitalization of $1,296.39, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. The firm had revenue of $211.72 million during the quarter, compared to analysts’ expectations of $203.86 million. Extreme Networks had a net margin of 0.34% and a return on equity of 51.82%. Extreme Networks’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share.

A number of institutional investors have recently modified their holdings of EXTR. PNC Financial Services Group Inc. acquired a new position in shares of Extreme Networks during the second quarter worth approximately $101,000. BlueCrest Capital Management Ltd bought a new stake in Extreme Networks in the second quarter worth $116,000. SG Americas Securities LLC bought a new stake in Extreme Networks during the third quarter valued at about $116,000. Ameritas Investment Partners Inc. raised 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 worth $124,000 after purchasing an additional 1,565 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Extreme Networks by 10.9% during the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock worth $130,000 after buying an additional 1,378 shares in the last quarter. Hedge funds and other institutional investors own 80.05% of the company’s stock.

In other news, insider Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $10.52, for a total transaction of $1,052,000.00. Following the sale, the insider now owns 471,653 shares in the company, valued at $4,961,789.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen M. Holmgren bought 5,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the acquisition, the director now directly owns 36,662 shares of the company’s stock, valued at approximately $421,246.38. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

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.

Earnings History and Estimates for Extreme Networks (NASDAQ:EXTR)

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