Extreme Networks (NASDAQ:EXTR) Cut to Hold at ValuEngine

ValuEngine cut shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a hold rating in a research report released on Thursday, ValuEngine reports.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Extreme Networks from a sell rating to a hold rating in a report on Tuesday, June 4th. BidaskClub upgraded Extreme Networks from a buy rating to a strong-buy rating in a report on Thursday. Finally, Lake Street Capital initiated coverage on Extreme Networks in a report on Monday, July 29th. They issued a buy rating and a $9.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Extreme Networks currently has an average rating of Buy and a consensus price target of $9.30.

Shares of EXTR stock traded down $0.12 on Thursday, hitting $8.25. The stock had a trading volume of 1,968,583 shares, compared to its average volume of 976,411. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.10 and a current ratio of 1.24. The business has a 50 day moving average price of $6.58. The company has a market capitalization of $966.67 million, a P/E ratio of 63.46 and a beta of 1.61. Extreme Networks has a one year low of $4.81 and a one year high of $9.08.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $252.40 million during the quarter, compared to the consensus estimate of $244.72 million. Extreme Networks had a positive return on equity of 10.98% and a negative net margin of 2.60%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. On average, research analysts predict that Extreme Networks will post 0.39 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. raised its holdings in Extreme Networks by 438.4% in the first quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock worth $26,000 after purchasing an additional 2,823 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Extreme Networks in the second quarter worth about $27,000. Bailard Inc. bought a new position in Extreme Networks in the second quarter worth about $68,000. Hennessy Advisors Inc. bought a new position in Extreme Networks in the second quarter worth about $87,000. Finally, Penserra Capital Management LLC bought a new position in Extreme Networks in the first quarter worth about $110,000. Institutional investors and hedge funds 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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