Extreme Networks (EXTR) Price Target Raised to $17.00 at DA Davidson

Extreme Networks (NASDAQ:EXTR) had its target price hoisted by research analysts at DA Davidson from $16.00 to $17.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s price target would suggest a potential upside of 57.85% from the stock’s current price.

A number of other equities research analysts have also issued reports on EXTR. BidaskClub raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 31st. Cowen reaffirmed a “buy” rating and issued a $18.00 price target on shares of Extreme Networks in a research report on Wednesday. Zacks Investment Research lowered Extreme Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. JMP Securities began coverage on Extreme Networks in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, ValuEngine lowered Extreme Networks from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.08.

Extreme Networks (NASDAQ EXTR) opened at $10.77 on Wednesday. Extreme Networks has a twelve month low of $5.52 and a twelve month high of $15.55. The company has a market capitalization of $1,220.00, a PE ratio of -56.68, a P/E/G ratio of 1.38 and a beta of 1.31. The company has a current ratio of 1.31, a quick ratio of 1.09 and a debt-to-equity ratio of 1.11.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Tuesday, February 6th. The technology company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $231.12 million during the quarter, compared to analysts’ expectations of $241.49 million. Extreme Networks had a positive return on equity of 44.41% and a negative net margin of 2.72%. Extreme Networks’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. equities analysts anticipate that Extreme Networks will post 0.59 earnings per share for the current fiscal year.

In other news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total transaction of $138,100.00. Following the sale, the director now owns 99,523 shares of the company’s stock, valued at approximately $1,374,412.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Carinalli sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $12.91, for a total value of $258,200.00. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Extreme Networks during the 3rd quarter worth about $116,000. PNC Financial Services Group Inc. acquired a new stake in shares of Extreme Networks during the 2nd quarter worth about $101,000. Howe & Rusling Inc. raised its position in shares of Extreme Networks by 2,623.5% during the 3rd quarter. Howe & Rusling Inc. now owns 11,357 shares of the technology company’s stock worth $135,000 after acquiring an additional 10,940 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Extreme Networks during the 2nd quarter worth about $116,000. Finally, Atria Investments LLC acquired a new stake in shares of Extreme Networks during the 4th quarter worth about $165,000. 82.16% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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