Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have garnered a “Moderate Buy” consensus recommendation from seven ratings firms covering the company, according to MarketBeat. Among the analysts, three have assigned a hold rating, while four have issued a buy rating for the stock. The average 12-month target price among brokers who have reported on the stock in the past year stands at $15.90.
Several research analyst reports have focused on Extreme Networks. Craig Hallum, in a report on August 8th, raised their price target on the company from $14.00 to $17.00 and gave it a “buy” rating. Needham & Company LLC also reaffirmed a “buy” rating and set a target price of $16.50 on August 8th.
Institutional investors have made recent changes to their positions in Extreme Networks. BNP Paribas Financial Markets increased its stake in the company by 101.8% during the first quarter, now owning 437,659 shares worth $5,051,000. Mirador Capital Partners LP raised its position by 68.1% in the same quarter, holding 247,008 shares valued at $2,850,000. Harbor Capital Advisors Inc. saw a 297.1% increase in its position during the second quarter, now owning 80,371 shares worth $1,081,000. M&G Plc also acquired a new stake in Extreme Networks during the first quarter, worth $4,175,000. Victory Capital Management Inc. experienced a significant increase of 373.4% in its holdings during the second quarter, now owning 1,066,743 shares valued at $14,348,000. Currently, 91.05% of the stock is owned by institutional investors.
Extreme Networks’ stock opened at $15.06 on Friday, trading down 0.6%. The company has a 12-month low of $10.49 and a high of $22.25. With a market capitalization of $1.96 billion, Extreme Networks has a P/E ratio of -215.14 and a price-to-earnings-growth ratio of 3.56. It has a 50-day simple moving average of $14.85 and a 200-day simple moving average of $13.08. The company has a quick ratio of 0.63, a current ratio of 0.90, and a debt-to-equity ratio of 7.05.
Extreme Networks reported earnings results on August 7th, with the technology company posting a loss of ($0.08) per share for the quarter. This missed analysts’ consensus estimates of $0.13 by ($0.21). The company generated $256.65 million in revenue during the quarter, slightly surpassing the consensus estimate of $253.21 million. Extreme Networks’ net margin was negative at 7.69%, and it had a negative return on equity of 24.51%. The firm experienced a 29.5% decline in revenue year-over-year. In the same quarter last year, the company reported earnings per share of $0.24. Analysts expect Extreme Networks to post earnings per share of 0.25 for the current fiscal year.
Extreme Networks, Inc. delivers cloud-driven networking solutions that utilize machine learning, artificial intelligence, analytics, and automation. The company designs, develops, and manufactures wired and wireless network infrastructure equipment, along with developing software for network management, policy, analytics, security, and access controls.