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

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been given an average rating of “Moderate Buy” by the five ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.30.

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

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total transaction of $549,807.75. Following the transaction, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EXTR. Quarry LP acquired a new position in shares of Extreme Networks during the third quarter valued at $26,000. Byrne Asset Management LLC acquired a new position in shares of Extreme Networks during the fourth quarter valued at $30,000. Sterling Capital Management LLC increased its holdings in shares of Extreme Networks by 603.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,665 shares during the period. Orion Capital Management LLC bought a new position in Extreme Networks during the fourth quarter valued at about $33,000. Finally, Smartleaf Asset Management LLC boosted its stake in Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock valued at $37,000 after buying an additional 1,733 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Trading Down 0.7 %

Shares of EXTR stock opened at $14.89 on Wednesday. Extreme Networks has a twelve month low of $10.50 and a twelve month high of $19.24. The firm has a 50-day moving average price of $15.69 and a 200 day moving average price of $15.87. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -15.84, a PEG ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 EPS 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 110.86%. Research analysts forecast that Extreme Networks will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

About Extreme Networks

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.