Extreme Networks (NASDAQ:EXTR) Research Coverage Started at Lake Street Capital

Lake Street Capital started coverage on shares of Extreme Networks (NASDAQ:EXTR) in a report published on Monday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $9.00 price objective on the technology company’s stock.

A number of other research analysts have also recently weighed in on EXTR. ValuEngine upgraded shares of Extreme Networks from a hold rating to a buy rating in a research note on Tuesday, July 2nd. BidaskClub upgraded shares of Extreme Networks from a hold rating to a buy rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded shares of Extreme Networks from a sell rating to a hold rating in a research note on Tuesday, June 4th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $9.30.

Shares of Extreme Networks stock traded down $0.14 on Monday, hitting $8.23. 25,283 shares of the company’s stock were exchanged, compared to its average volume of 789,710. The firm has a 50-day moving average of $6.54. The company has a market capitalization of $993.94 million, a PE ratio of 63.27 and a beta of 1.57. Extreme Networks has a 1 year low of $4.81 and a 1 year high of $9.08. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.29 and a quick ratio of 1.10.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $252.40 million for the quarter, compared to analysts’ expectations of $244.72 million. Extreme Networks had a negative net margin of 1.41% and a positive return on equity of 26.15%. The company’s revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 EPS. Equities research analysts predict that Extreme Networks will post 0.39 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its holdings in Extreme Networks by 438.4% in the 1st quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock valued at $26,000 after acquiring an additional 2,823 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Extreme Networks in the 2nd quarter valued at $27,000. Bailard Inc. bought a new stake in Extreme Networks in the 2nd quarter valued at $68,000. Hennessy Advisors Inc. bought a new stake in Extreme Networks in the 2nd quarter valued at $87,000. Finally, Penserra Capital Management LLC bought a new stake in Extreme Networks in the 1st quarter valued at $110,000. Institutional investors own 80.88% of the company’s stock.

About Extreme Networks

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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Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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