Extreme Networks (EXTR) Price Target Increased to $17.00 by Analysts at DA Davidson

Extreme Networks (NASDAQ:EXTR) had its price objective upped by DA Davidson from $16.00 to $17.00 in a research note published on Wednesday, February 7th, Marketbeat.com reports. They currently have a buy rating on the technology company’s stock.

EXTR has been the subject of several other research reports. ValuEngine lowered shares of Extreme Networks from a buy rating to a hold rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of Extreme Networks from a buy rating to a hold rating in a report on Tuesday, January 9th. JMP Securities started coverage on shares of Extreme Networks in a report on Wednesday, January 3rd. They issued an outperform rating and a $16.00 target price on the stock. Cowen started coverage on shares of Extreme Networks in a report on Wednesday, December 20th. They issued an outperform rating and a $16.00 target price on the stock. Finally, Craig Hallum reiterated a buy rating and issued a $17.00 target price (up previously from $12.50) on shares of Extreme Networks in a report on Wednesday, November 8th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $16.08.

Shares of Extreme Networks (NASDAQ EXTR) opened at $12.10 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. Extreme Networks has a 52 week low of $6.00 and a 52 week high of $15.55. The stock has a market cap of $1,342.87, a price-to-earnings ratio of 27.09, a P/E/G ratio of 1.14 and a beta of 1.32.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Extreme Networks had a negative net margin of 2.72% and a positive return on equity of 44.24%. The business had revenue of $231.12 million during the quarter, compared to analyst estimates of $241.49 million. During the same quarter in the previous year, the business earned $0.12 EPS. Extreme Networks’s quarterly revenue was up 47.8% compared to the same quarter last year. research analysts forecast that Extreme Networks will post 0.6 earnings per share for the current year.

In other news, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total transaction of $138,100.00. Following the sale, the director now directly owns 99,523 shares in the company, valued at approximately $1,374,412.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles Carinalli sold 20,000 shares of Extreme Networks stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $12.91, for a total transaction of $258,200.00. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Financial Gravity Companies Inc. acquired a new stake in shares of Extreme Networks during the 4th quarter valued at about $146,000. SG Americas Securities LLC acquired a new stake in shares of Extreme Networks during the 3rd quarter valued at about $116,000. Suntrust Banks Inc. acquired a new stake in shares of Extreme Networks during the 4th quarter valued at about $128,000. PNC Financial Services Group Inc. acquired a new stake in shares of Extreme Networks during the 2nd quarter valued at about $101,000. Finally, Howe & Rusling Inc. boosted 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 valued at $135,000 after acquiring an additional 10,940 shares in the last quarter. Institutional investors and hedge funds own 82.00% of the company’s stock.

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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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