Extreme Networks, Inc (NASDAQ:EXTR) has been assigned an average rating of “Hold” from the nine brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $11.38.
A number of equities analysts have recently issued reports on the stock. DA Davidson cut their price objective on shares of Extreme Networks to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 9th. ValuEngine cut shares of Extreme Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. BidaskClub raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Wednesday. Cowen cut shares of Extreme Networks from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $16.00 to $6.50 in a research report on Thursday, August 9th. Finally, JMP Securities cut their price objective on shares of Extreme Networks from $12.00 to $9.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 9th.
A number of hedge funds and other institutional investors have recently made changes to their positions in EXTR. Paradigm Capital Management Inc. NY bought a new position in Extreme Networks in the 2nd quarter valued at about $47,680,000. FMR LLC lifted its position in Extreme Networks by 925.2% in the 2nd quarter. FMR LLC now owns 3,381,200 shares of the technology company’s stock valued at $26,914,000 after acquiring an additional 3,051,400 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in Extreme Networks in the 3rd quarter valued at about $8,768,000. Millennium Management LLC lifted its position in Extreme Networks by 731.1% in the 2nd quarter. Millennium Management LLC now owns 1,200,465 shares of the technology company’s stock valued at $9,556,000 after acquiring an additional 1,056,025 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Extreme Networks by 1,163.6% in the 1st quarter. Principal Financial Group Inc. now owns 967,304 shares of the technology company’s stock valued at $10,708,000 after acquiring an additional 890,753 shares in the last quarter. 80.98% of the stock is currently owned by institutional investors and hedge funds.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Friday, November 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.05. The company had revenue of $239.89 million for the quarter, compared to analysts’ expectations of $233.36 million. Extreme Networks had a negative net margin of 5.96% and a positive return on equity of 36.03%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, sell-side analysts expect that Extreme Networks will post 0.36 EPS for the current fiscal year.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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