Extreme Networks (NASDAQ:EXTR) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a report published on Thursday,Benzinga reports. They currently have a $20.00 price target on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Rosenblatt Securities increased their price objective on Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a report on Thursday. B. Riley lifted their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Craig Hallum raised their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.25.

Extreme Networks Stock Performance

Shares of NASDAQ EXTR opened at $15.60 on Thursday. The stock has a 50-day moving average price of $17.19 and a two-hundred day moving average price of $15.59. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $19.24. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 117.77%. As a group, equities research analysts expect that Extreme Networks will post 0.27 EPS for the current year.

Insider Buying and Selling at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the sale, the director now owns 366,793 shares in the company, valued at $6,125,443.10. This represents a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in shares of Extreme Networks in the third quarter valued at approximately $26,000. GAMMA Investing LLC increased its position in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,035 shares during the last quarter. Byrne Asset Management LLC bought a new stake in shares of Extreme Networks during the 4th quarter worth $30,000. Pacer Advisors Inc. boosted its holdings in shares of Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after buying an additional 741 shares during the last quarter. Finally, KBC Group NV grew its position in Extreme Networks by 54.3% during the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after buying an additional 1,745 shares during the period. Institutional investors own 91.05% of the company’s stock.

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.