Extreme Networks, Inc. (NASDAQ:EXTR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Extreme Networks, Inc. (NASDAQ:EXTR) has received an average rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.30.

A number of brokerages recently weighed in on EXTR. Rosenblatt Securities reissued a “buy” rating and set a $22.00 target price on shares of Extreme Networks in a research note on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a research note on Thursday, January 30th. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Lake Street Capital lifted their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the completion of the transaction, the chief executive officer now directly owns 1,478,941 shares in the company, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EXTR. Victory Capital Management Inc. grew its holdings in shares of Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after buying an additional 3,399,288 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Extreme Networks by 397,835.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company’s stock valued at $38,103,000 after buying an additional 2,275,619 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Extreme Networks during the fourth quarter valued at about $16,573,000. JPMorgan Chase & Co. grew its holdings in shares of Extreme Networks by 312.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company’s stock valued at $20,078,000 after buying an additional 908,336 shares during the last quarter. Finally, Penn Capital Management Company LLC purchased a new position in Extreme Networks during the fourth quarter worth about $14,229,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Price Performance

EXTR stock opened at $15.45 on Friday. The company has a fifty day moving average price of $16.48 and a 200-day moving average price of $15.87. The company has a market capitalization of $2.05 billion, a P/E ratio of -16.44, a PEG ratio of 3.06 and a beta of 1.73. Extreme Networks has a 52-week low of $10.50 and a 52-week high of $19.24. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. As a group, equities analysts expect that Extreme Networks will post 0.31 EPS for the current year.

Extreme Networks announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
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.