JMP Securities initiated coverage on shares of Extreme Networks (NASDAQ:EXTR) in a research note published on Wednesday morning. The firm issued an outperform rating and a $16.00 price objective on the technology company’s stock.

Several other brokerages have also weighed in on EXTR. ValuEngine lowered shares of Extreme Networks from a buy rating to a hold rating in a report on Friday, December 1st. Cowen assumed coverage on shares of Extreme Networks in a report on Wednesday, December 20th. They set an outperform rating and a $16.00 price objective on the stock. Craig Hallum reiterated a buy rating and set a $17.00 price objective (up from $12.50) on shares of Extreme Networks in a report on Wednesday, November 8th. Zacks Investment Research lowered shares of Extreme Networks from a strong-buy rating to a hold rating in a report on Tuesday, October 17th. Finally, Needham & Company LLC reiterated a buy rating on shares of Extreme Networks in a report on Friday, November 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Extreme Networks currently has an average rating of Buy and an average target price of $14.17.

Shares of Extreme Networks (EXTR) traded up $0.55 during mid-day trading on Wednesday, hitting $13.25. 1,869,900 shares of the stock traded hands, compared to its average volume of 1,838,767. The stock has a market cap of $1,520.00, a price-to-earnings ratio of 662.50, a P/E/G ratio of 1.24 and a beta of 1.14. Extreme Networks has a 1-year low of $5.10 and a 1-year high of $14.34. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.09 and a current ratio of 1.31.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The business had revenue of $211.72 million for the quarter, compared to analyst estimates of $203.86 million. Extreme Networks had a net margin of 0.34% and a return on equity of 46.58%. The company’s revenue was up 72.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. equities analysts expect that Extreme Networks will post 0.6 earnings per share for the current year.

In related news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total value of $138,100.00. Following the transaction, the director now owns 99,523 shares in the company, valued at $1,374,412.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Carinalli sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $12.91, for a total transaction of $258,200.00. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Extreme Networks in the third quarter valued at approximately $116,000. PNC Financial Services Group Inc. acquired a new stake in Extreme Networks in the second quarter valued at approximately $101,000. Howe & Rusling Inc. grew its position in Extreme Networks by 2,623.5% in the third quarter. Howe & Rusling Inc. now owns 11,357 shares of the technology company’s stock valued at $135,000 after acquiring an additional 10,940 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Extreme Networks in the second quarter valued at approximately $116,000. Finally, Sei Investments Co. acquired a new stake in Extreme Networks in the third quarter valued at approximately $161,000. Hedge funds and other institutional investors own 80.87% of the company’s stock.

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Extreme Networks Company Profile

Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.

Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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