Extreme Networks (NASDAQ:EXTR) had its price objective lowered by DA Davidson to $13.00 in a research note published on Thursday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.
A number of other equities analysts have also commented on the company. JMP Securities cut their price target on Extreme Networks from $12.00 to $9.00 and set a market outperform rating for the company in a report on Thursday. Cowen lowered Extreme Networks from an outperform rating to a market perform rating and cut their price target for the stock from $16.00 to $6.50 in a report on Thursday. ValuEngine lowered Extreme Networks from a hold rating to a sell rating in a report on Wednesday. Needham & Company LLC lowered Extreme Networks from a buy rating to a hold rating in a report on Wednesday. Finally, Zacks Investment Research lowered Extreme Networks from a buy rating to a hold rating in a report on Monday, July 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Extreme Networks has a consensus rating of Hold and an average price target of $11.75.
NASDAQ EXTR traded up $0.22 on Thursday, hitting $6.46. 4,131,338 shares of the stock traded hands, compared to its average volume of 2,350,275. Extreme Networks has a 12 month low of $5.35 and a 12 month high of $15.55. The firm has a market cap of $723.17 million, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 0.38 and a beta of 1.39. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 1.67.
In other Extreme Networks news, Director Raj Khanna acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The stock was bought at an average price of $8.96 per share, with a total value of $89,600.00. Following the completion of the purchase, the director now owns 109,523 shares of the company’s stock, valued at $981,326.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward H. Kennedy acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The shares were acquired at an average cost of $9.03 per share, with a total value of $451,500.00. The disclosure for this purchase can be found here. Insiders bought 130,000 shares of company stock valued at $1,140,500 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.
A number of large investors have recently bought and sold shares of EXTR. Deutsche Bank AG boosted its stake in Extreme Networks by 118.0% during the fourth quarter. Deutsche Bank AG now owns 274,813 shares of the technology company’s stock valued at $3,438,000 after buying an additional 148,743 shares during the period. MetLife Investment Advisors LLC bought a new stake in Extreme Networks during the fourth quarter valued at $631,000. Xact Kapitalforvaltning AB bought a new stake in Extreme Networks during the fourth quarter valued at $153,000. Cambridge Investment Research Advisors Inc. boosted its stake in Extreme Networks by 110.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 45,227 shares of the technology company’s stock valued at $566,000 after buying an additional 23,769 shares during the period. Finally, Rhumbline Advisers boosted its stake in Extreme Networks by 152.7% during the first quarter. Rhumbline Advisers now owns 263,901 shares of the technology company’s stock valued at $2,921,000 after buying an additional 159,463 shares during the period. 85.61% of the stock is owned by institutional investors.
About Extreme Networks
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. The company designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls.
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