Extreme Networks, Inc. (NASDAQ:EXTR – Free Report) shares hit a new 52-week high on Friday . The company traded as high as $26.95 and last traded at $26.89, with a volume of 725807 shares trading hands. The stock had previously closed at $25.90.
Analysts Set New Price Targets
A number of brokerages have recently commented on EXTR. Rosenblatt Securities upped their target price on shares of Extreme Networks from $23.00 to $30.00 in a report on Monday, June 12th. StockNews.com lowered shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 3rd. Craig Hallum lowered shares of Extreme Networks from a “buy” rating to a “hold” rating and dropped their price target for the stock from $22.00 to $17.50 in a research note on Wednesday, April 19th. B. Riley reiterated a “buy” rating and set a $24.00 price target on shares of Extreme Networks in a research note on Wednesday, April 19th. Finally, Lake Street Capital boosted their price target on shares of Extreme Networks from $20.00 to $27.00 in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.
Extreme Networks Stock Up 5.1 %
The company has a quick ratio of 0.82, a current ratio of 0.95 and a debt-to-equity ratio of 1.92. The firm has a market cap of $3.51 billion, a PE ratio of 63.28 and a beta of 2.01. The firm’s 50 day moving average is $21.19 and its 200-day moving average is $19.34.
Extreme Networks (NASDAQ:EXTR – Free Report) last announced its quarterly earnings data on Wednesday, April 26th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.05. The business had revenue of $332.51 million for the quarter, compared to the consensus estimate of $320.30 million. Extreme Networks had a net margin of 4.73% and a return on equity of 79.08%. As a group, equity research analysts expect that Extreme Networks, Inc. will post 0.7 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Edward Meyercord sold 167,587 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $21.18, for a total value of $3,549,492.66. Following the completion of the sale, the chief executive officer now owns 710,385 shares of the company’s stock, valued at $15,045,954.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 194,858 shares of company stock valued at $4,119,020 over the last quarter. Company insiders own 3.16% of the company’s stock.
Institutional Investors Weigh In On Extreme Networks
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Extreme Networks by 4.2% during the 1st quarter. BlackRock Inc. now owns 18,666,486 shares of the technology company’s stock valued at $356,903,000 after purchasing an additional 751,645 shares in the last quarter. Vanguard Group Inc. grew its holdings in Extreme Networks by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 12,066,504 shares of the technology company’s stock worth $147,332,000 after acquiring an additional 821,201 shares in the last quarter. Capital Research Global Investors grew its holdings in Extreme Networks by 24.0% during the 1st quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company’s stock worth $134,986,000 after acquiring an additional 2,141,000 shares in the last quarter. Voss Capital LLC grew its holdings in Extreme Networks by 67.2% during the 1st quarter. Voss Capital LLC now owns 5,800,000 shares of the technology company’s stock worth $110,896,000 after acquiring an additional 2,331,613 shares in the last quarter. Finally, State Street Corp grew its holdings in Extreme Networks by 3.5% during the 1st quarter. State Street Corp now owns 4,556,581 shares of the technology company’s stock worth $87,122,000 after acquiring an additional 155,433 shares in the last quarter. 86.93% of the stock is owned by institutional investors and hedge funds.
Extreme Networks Company Profile
Extreme Networks, Inc. delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
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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