Extreme Networks’ (EXTR) “Buy” Rating Reaffirmed at Cowen

Cowen reiterated their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research report sent to investors on Wednesday morning. Cowen currently has a $18.00 price objective on the technology company’s stock.

Several other equities research analysts also recently commented on EXTR. BidaskClub upgraded Extreme Networks from a buy rating to a strong-buy rating in a report on Wednesday, January 31st. Zacks Investment Research downgraded Extreme Networks from a hold rating to a sell rating in a report on Wednesday, January 31st. JMP Securities began coverage on Extreme Networks in a research note on Wednesday, January 3rd. They set an outperform rating and a $16.00 price objective for the company. ValuEngine lowered Extreme Networks from a buy rating to a hold rating in a research note on Friday, December 1st. Finally, Needham & Company LLC restated a buy rating on shares of Extreme Networks in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $16.08.

Shares of Extreme Networks (NASDAQ:EXTR) opened at $10.53 on Wednesday. The company has a market capitalization of $1,170.00, a PE ratio of -55.42, a P/E/G ratio of 1.08 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 has a twelve month low of $5.57 and a twelve month 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, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $231.12 million for the quarter, compared to the consensus estimate of $241.49 million. Extreme Networks had a positive return on equity of 44.41% and a negative net margin of 2.72%. The company’s revenue was up 47.8% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. research analysts predict that Extreme Networks will post 0.59 earnings per share for the current year.

In other news, Director Charles Carinalli sold 20,000 shares of Extreme Networks stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $12.91, for a total value of $258,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, November 22nd. The stock was 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 of the company’s stock, 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.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Extreme Networks by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock worth $74,138,000 after acquiring an additional 830,103 shares in the last quarter. BlackRock Inc. grew its position in shares of Extreme Networks by 3.1% in the 4th quarter. BlackRock Inc. now owns 7,530,223 shares of the technology company’s stock worth $94,278,000 after acquiring an additional 224,820 shares in the last quarter. State Street Corp grew its position in shares of Extreme Networks by 4.7% in the 2nd quarter. State Street Corp now owns 2,307,153 shares of the technology company’s stock worth $21,273,000 after acquiring an additional 102,591 shares in the last quarter. FMR LLC grew its position in shares of Extreme Networks by 57.9% in the 2nd quarter. FMR LLC now owns 2,130,799 shares of the technology company’s stock worth $19,647,000 after acquiring an additional 781,130 shares in the last quarter. Finally, Copper Rock Capital Partners LLC acquired a new position in shares of Extreme Networks in the 4th quarter worth approximately $24,503,000. Institutional investors own 82.16% of the company’s stock.

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Extreme Networks Company Profile

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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