Extreme Networks (EXTR) Coverage Initiated by Analysts at Cowen

Investment analysts at Cowen assumed coverage on shares of Extreme Networks (NASDAQ:EXTR) in a research report issued on Wednesday, December 20th, Marketbeat.com reports. The firm set an “outperform” rating and a $16.00 price target on the technology company’s stock. Cowen’s target price would indicate a potential upside of 21.58% from the company’s previous close.

EXTR has been the topic of several other reports. ValuEngine upgraded Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research downgraded Extreme Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Craig Hallum restated a “buy” rating and set a $17.00 price objective (up from $12.50) on shares of Extreme Networks in a report on Wednesday, November 8th. Finally, Needham & Company LLC restated a “buy” rating on shares of Extreme Networks in a report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Extreme Networks currently has a consensus rating of “Buy” and a consensus target price of $14.17.

Shares of Extreme Networks (NASDAQ EXTR) traded up $0.36 during trading hours on Wednesday, hitting $13.16. The company had a trading volume of 1,610,000 shares, compared to its average volume of 1,680,000. The stock has a market cap of $1,490.00, a P/E ratio of 658.00, a P/E/G ratio of 1.31 and a beta of 1.14. The company has a current ratio of 1.31, a quick ratio of 1.09 and a debt-to-equity ratio of 1.11. Extreme Networks has a 1-year low of $5.22 and a 1-year high of $14.34.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $211.72 million for the quarter, compared to the consensus estimate of $203.86 million. Extreme Networks had a return on equity of 46.58% and a net margin of 0.34%. The company’s revenue was up 72.5% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. equities research analysts expect that Extreme Networks will post 0.6 EPS for the current year.

In other news, Director Charles Carinalli sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $12.91, for a total value of $258,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total value of $138,100.00. Following the completion of the sale, the director now owns 99,523 shares of the company’s stock, valued at $1,374,412.63. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of EXTR. PNC Financial Services Group Inc. bought a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $101,000. BlueCrest Capital Management Ltd bought a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $116,000. SG Americas Securities LLC bought a new stake in shares of Extreme Networks in the 3rd quarter valued at approximately $116,000. Ameritas Investment Partners Inc. increased its holdings in shares of Extreme Networks by 13.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock valued at $124,000 after acquiring an additional 1,565 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Extreme Networks by 10.9% in the 2nd quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,378 shares during the last quarter. Institutional investors and hedge funds own 80.87% of the company’s stock.

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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.

Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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