Extreme Networks (EXTR) Shares Down 5.8%

Extreme Networks (NASDAQ:EXTR) fell 5.8% during mid-day trading on Friday . The company traded as low as $10.42 and last traded at $10.43. 2,312,136 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 2,473,171 shares. The stock had previously closed at $11.07.

A number of brokerages have recently issued reports on EXTR. BidaskClub cut shares of Extreme Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. Zacks Investment Research raised shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, April 3rd. Finally, Needham & Company LLC upped their price objective on shares of Extreme Networks from $14.85 to $15.50 and gave the company a “buy” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.92.

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The company has a market cap of $1,276.01, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.60. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 1.44.



Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Extreme Networks had a negative net margin of 2.72% and a positive return on equity of 44.24%. The company had revenue of $231.12 million during the quarter, compared to analysts’ expectations of $241.49 million. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s revenue was up 47.8% on a year-over-year basis. analysts predict that Extreme Networks will post 0.52 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Extreme Networks by 3.1% during the 4th quarter. BlackRock Inc. now owns 7,530,223 shares of the technology company’s stock valued at $94,278,000 after buying an additional 224,820 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Extreme Networks by 181.0% during the 4th quarter. TIAA CREF Investment Management LLC now owns 3,809,162 shares of the technology company’s stock valued at $47,691,000 after buying an additional 2,453,458 shares during the last quarter. Copper Rock Capital Partners LLC bought a new stake in Extreme Networks during the 4th quarter valued at $24,503,000. Geode Capital Management LLC raised its holdings in Extreme Networks by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 1,355,595 shares of the technology company’s stock valued at $16,971,000 after buying an additional 69,215 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Extreme Networks by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,153,703 shares of the technology company’s stock valued at $14,443,000 after buying an additional 86,085 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

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About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. 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.

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