Extreme Networks (EXTR) Lifted to “Sell” at ValuEngine

Extreme Networks (NASDAQ:EXTR) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday, June 12th.

Several other research firms have also recently weighed in on EXTR. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Thursday, March 15th. BidaskClub raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. One equities 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 a consensus rating of “Buy” and an average price target of $16.08.

NASDAQ:EXTR opened at $8.69 on Tuesday. Extreme Networks has a 12 month low of $8.10 and a 12 month high of $15.55. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 1.24 and a beta of 1.54. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 1.36.



Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). The business had revenue of $262.00 million during the quarter, compared to analyst estimates of $268.32 million. Extreme Networks had a negative net margin of 3.28% and a positive return on equity of 43.61%. The business’s quarterly revenue was up 75.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. sell-side analysts forecast that Extreme Networks will post 0.42 earnings per share for the current year.

In related news, Director Edward H. Kennedy acquired 50,000 shares of the company’s stock in a transaction on Wednesday, May 16th. The stock was purchased at an average cost of $8.62 per share, with a total value of $431,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John C. Shoemaker acquired 20,000 shares of the company’s stock in a transaction on Friday, May 11th. The stock was bought at an average cost of $8.40 per share, with a total value of $168,000.00. Following the completion of the acquisition, the director now directly owns 62,920 shares in the company, valued at $528,528. The disclosure for this purchase can be found here. Insiders acquired a total of 150,000 shares of company stock valued at $1,308,500 over the last ninety days. Insiders own 1.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH raised its holdings in Extreme Networks by 31.0% in the 1st quarter. Allianz Asset Management GmbH now owns 1,222,780 shares of the technology company’s stock valued at $13,537,000 after acquiring an additional 289,570 shares in the last quarter. Navellier & Associates Inc acquired a new position in Extreme Networks in the 4th quarter valued at $1,230,000. MetLife Investment Advisors LLC acquired a new position in Extreme Networks in the 4th quarter valued at $631,000. Cornerstone Capital Management Holdings LLC. raised its holdings in Extreme Networks by 14.4% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 364,667 shares of the technology company’s stock valued at $4,565,000 after acquiring an additional 45,944 shares in the last quarter. Finally, Advisor Group Inc. raised its holdings in Extreme Networks by 35.2% in the 4th quarter. Advisor Group Inc. now owns 31,759 shares of the technology company’s stock valued at $398,000 after acquiring an additional 8,269 shares in the last quarter. 86.98% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Company Profile

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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Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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