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.
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.
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