Extreme Networks (EXTR) Cut to “Buy” at BidaskClub

Extreme Networks (NASDAQ:EXTR) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday, February 16th.

A number of other analysts have also recently issued reports on EXTR. Craig Hallum reiterated a “buy” rating and issued a $17.00 target price (up from $12.50) on shares of Extreme Networks in a research note on Wednesday, November 8th. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Friday, November 10th. Needham & Company LLC reiterated a “buy” rating on shares of Extreme Networks in a research note on Friday, November 10th. ValuEngine cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Cowen began coverage on shares of Extreme Networks in a research note on Wednesday, December 20th. They issued an “outperform” rating and a $16.00 target price for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Extreme Networks has a consensus rating of “Buy” and an average price target of $16.08.

Extreme Networks (NASDAQ EXTR) traded up $0.11 during mid-day trading on Friday, hitting $11.76. 1,182,596 shares of the company traded hands, compared to its average volume of 4,579,204. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.89 and a current ratio of 1.13. The firm has a market capitalization of $1,342.87, a PE ratio of -65.33, a P/E/G ratio of 1.14 and a beta of 1.32. Extreme Networks has a twelve month low of $6.00 and a twelve month high of $15.55.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly 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 business had revenue of $231.12 million during the quarter, compared to analysts’ expectations of $241.49 million. Extreme Networks had a negative net margin of 2.72% and a positive return on equity of 44.24%. The firm’s quarterly revenue was up 47.8% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. analysts predict that Extreme Networks will post 0.6 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of EXTR. PNC Financial Services Group Inc. acquired a new stake in shares of Extreme Networks in the second quarter worth $101,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Extreme Networks in the second quarter worth $116,000. SG Americas Securities LLC acquired a new stake in shares of Extreme Networks in the third quarter worth $116,000. Ameritas Investment Partners Inc. lifted its stake in shares of Extreme Networks by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock worth $124,000 after buying an additional 1,565 shares during the last quarter. Finally, Suntrust Banks Inc. acquired a new stake in shares of Extreme Networks in the fourth quarter worth $128,000. Institutional investors and hedge funds own 74.53% 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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