Extreme Networks, Inc. (NASDAQ:EXTR) had its target price boosted by Needham & Company LLC from $12.50 to $13.00 in a report published on Tuesday morning, Marketbeat reports. They currently have a buy rating on the technology company’s stock.
A number of other research analysts have also issued reports on EXTR. BidaskClub lowered Extreme Networks from a hold rating to a sell rating in a report on Monday, July 31st. Zacks Investment Research lowered Extreme Networks from a buy rating to a hold rating in a report on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $9.10.
Extreme Networks (NASDAQ:EXTR) opened at 10.68 on Tuesday. Extreme Networks has a 52-week low of $3.75 and a 52-week high of $11.03. The company’s market capitalization is $1.18 billion. The stock has a 50 day moving average price of $9.34 and a 200 day moving average price of $8.18.
Extreme Networks (NASDAQ:EXTR) last released its earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The company had revenue of $178.70 million during the quarter, compared to analysts’ expectations of $171.96 million. Extreme Networks had a negative net margin of 1.42% and a positive return on equity of 43.34%. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. On average, equities analysts expect that Extreme Networks will post $0.70 earnings per share for the current year.
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In related news, insider Edward Meyercord sold 65,000 shares of Extreme Networks stock in a transaction on Monday, June 26th. The stock was sold at an average price of $10.10, for a total value of $656,500.00. Following the completion of the transaction, the insider now directly owns 563,034 shares in the company, valued at $5,686,643.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.91% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Extreme Networks by 11.5% in the second quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock worth $74,138,000 after buying an additional 830,103 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Extreme Networks by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 4,095,453 shares of the technology company’s stock worth $30,757,000 after buying an additional 466,851 shares during the period. RK Capital Management LLC increased its stake in shares of Extreme Networks by 164.7% in the first quarter. RK Capital Management LLC now owns 3,608,869 shares of the technology company’s stock worth $27,103,000 after buying an additional 2,245,634 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Extreme Networks by 30.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,649,429 shares of the technology company’s stock worth $19,897,000 after buying an additional 618,989 shares during the period. Finally, State Street Corp increased its stake in shares of Extreme Networks by 4.7% in the second quarter. State Street Corp now owns 2,307,153 shares of the technology company’s stock worth $21,273,000 after buying an additional 102,591 shares during the period. 80.44% of the stock is owned by institutional investors.
About Extreme Networks
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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