Craig Hallum Trims Extreme Networks (NASDAQ:EXTR) Target Price to $13.00

Extreme Networks (NASDAQ:EXTR) had its target price cut by Craig Hallum from $15.00 to $13.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Craig Hallum’s price objective points to a potential upside of 10.45% from the stock’s previous close.

EXTR has been the topic of several other reports. TheStreet cut shares of Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. B. Riley upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Monday, April 15th. UBS Group downgraded Extreme Networks from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Rosenblatt Securities raised Extreme Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $17.00 in a report on Thursday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.36.

Extreme Networks Stock Up 2.8 %

Shares of NASDAQ:EXTR traded up $0.32 during trading on Thursday, hitting $11.77. The company’s stock had a trading volume of 2,055,075 shares, compared to its average volume of 2,100,323. The company has a market capitalization of $1.52 billion, a PE ratio of 19.62, a PEG ratio of 3.99 and a beta of 1.88. Extreme Networks has a fifty-two week low of $10.57 and a fifty-two week high of $32.73. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. The stock’s 50-day moving average price is $11.57 and its two-hundred day moving average price is $14.91.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. The business had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. As a group, sell-side analysts expect that Extreme Networks will post 0.17 EPS for the current year.

Hedge Funds Weigh In On Extreme Networks

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Extreme Networks by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after purchasing an additional 1,877,727 shares during the period. Raymond James & Associates grew its stake in shares of Extreme Networks by 4.1% in the fourth quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock worth $9,526,000 after purchasing an additional 21,203 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Extreme Networks by 167,176.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after purchasing an additional 3,407,064 shares during the period. Knights of Columbus Asset Advisors LLC bought a new stake in shares of Extreme Networks during the fourth quarter valued at about $1,613,000. Finally, Loomis Sayles & Co. L P acquired a new stake in Extreme Networks in the third quarter worth about $31,284,000. 91.05% of the stock is owned by institutional investors.

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.