Extreme Networks (NASDAQ:EXTR – Get Rating)'s stock had its "buy" rating reaffirmed by stock analysts at Rosenblatt Securities in a report issued on Tuesday, Benzinga reports. They currently have a $23.00 price objective on the technology company's stock. Rosenblatt Securities' target price would indicate a potential upside of 21.76% from the company's previous close.
A number of other equities research analysts have also recently commented on EXTR. Craig Hallum raised their target price on Extreme Networks from $19.00 to $22.00 in a research report on Friday, October 28th. Cowen upped their target price on Extreme Networks to $18.00 in a research note on Tuesday, November 1st. TheStreet raised shares of Extreme Networks from a "c+" rating to a "b" rating in a research note on Thursday, October 27th. Needham & Company LLC upped their price objective on shares of Extreme Networks from $23.00 to $23.50 and gave the stock a "buy" rating in a research report on Thursday, January 26th. Finally, Lake Street Capital lifted their target price on shares of Extreme Networks from $15.00 to $19.00 in a research report on Friday, October 28th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Extreme Networks presently has a consensus rating of "Buy" and a consensus price target of $21.42.
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NASDAQ EXTR traded down $0.42 during mid-day trading on Tuesday, reaching $18.89. 158,766 shares of the stock were exchanged, compared to its average volume of 1,495,603. The company has a market capitalization of $2.44 billion, a P/E ratio of 52.42 and a beta of 2.03. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.82 and a current ratio of 0.94. The business's 50 day moving average is $18.79 and its 200-day moving average is $16.75. Extreme Networks has a 1 year low of $8.49 and a 1 year high of $21.03.
Insiders Place Their Bets
In other news, Director Ingrid Burton sold 9,000 shares of the stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $20.35, for a total value of $183,150.00. Following the completion of the sale, the director now directly owns 63,243 shares in the company, valued at $1,286,995.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Extreme Networks news, CRO Joseph A. Vitalone sold 19,854 shares of the firm's stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $19.14, for a total value of $380,005.56. Following the completion of the sale, the executive now directly owns 45,090 shares of the company's stock, valued at approximately $863,022.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ingrid Burton sold 9,000 shares of the business's stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $20.35, for a total transaction of $183,150.00. Following the transaction, the director now directly owns 63,243 shares in the company, valued at approximately $1,286,995.05. The disclosure for this sale can be found here. Insiders have sold a total of 38,854 shares of company stock valued at $758,456 in the last 90 days. 3.16% of the stock is owned by insiders.
Hedge Funds Weigh In On Extreme Networks
A number of institutional investors have recently bought and sold shares of the company. Financial Advocates Investment Management purchased a new stake in shares of Extreme Networks in the 4th quarter valued at approximately $187,000. Point72 Middle East FZE acquired a new stake in Extreme Networks during the fourth quarter worth $167,000. State of Wyoming raised its position in Extreme Networks by 15.1% in the fourth quarter. State of Wyoming now owns 9,258 shares of the technology company's stock valued at $170,000 after purchasing an additional 1,218 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Extreme Networks by 93.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,487 shares of the technology company's stock valued at $64,000 after purchasing an additional 1,689 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Extreme Networks by 1,693.1% during the 4th quarter. Lazard Asset Management LLC now owns 4,160 shares of the technology company's stock worth $76,000 after purchasing an additional 3,928 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.
About Extreme Networks
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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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