Needham & Company LLC Raises Extreme Networks (EXTR) Price Target to $15.50

Extreme Networks (NASDAQ:EXTR) had its target price raised by equities research analysts at Needham & Company LLC from $14.85 to $15.50 in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 43.92% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Friday, November 10th. Craig Hallum reiterated a “buy” rating and issued a $17.00 price target (up previously from $12.50) on shares of Extreme Networks in a report on Wednesday, November 8th. DA Davidson raised their price target on Extreme Networks from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday. Cowen reiterated a “buy” rating and issued a $18.00 price target on shares of Extreme Networks in a report on Wednesday. Finally, ValuEngine cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $16.08.

Shares of Extreme Networks (EXTR) opened at $10.77 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.09 and a current ratio of 1.31. The company has a market capitalization of $1,320.21, a price-to-earnings ratio of 27.07, a PEG ratio of 1.17 and a beta of 1.32. Extreme Networks has a 1-year low of $5.57 and a 1-year high of $15.55.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Tuesday, February 6th. The technology company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $231.12 million for 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%. The business’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. research analysts expect that Extreme Networks will post 0.59 EPS for the current fiscal year.

In related news, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total value of $138,100.00. Following the completion of the transaction, the director now owns 99,523 shares in the company, valued at approximately $1,374,412.63. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in EXTR. PNC Financial Services Group Inc. acquired a new position in Extreme Networks in the second quarter valued at about $101,000. BlueCrest Capital Management Ltd acquired a new position in Extreme Networks in the second quarter valued at about $116,000. SG Americas Securities LLC acquired a new position in Extreme Networks in the third quarter valued at about $116,000. Ameritas Investment Partners Inc. lifted its stake in Extreme Networks by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock valued at $124,000 after buying an additional 1,565 shares during the period. Finally, Amalgamated Bank lifted its stake in Extreme Networks by 10.9% in the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock valued at $130,000 after buying an additional 1,378 shares during the period. 82.16% of the stock is currently owned by hedge funds and other institutional investors.

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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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