Extreme Networks (NASDAQ:EXTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Extreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs. “

Other research analysts also recently issued research reports about the company. Needham & Company LLC upped their price objective on Extreme Networks from $14.85 to $15.50 and gave the stock a “buy” rating in a report on Wednesday, February 7th. DA Davidson upped their price objective on Extreme Networks from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Cowen reaffirmed a “buy” rating and set a $18.00 price objective on shares of Extreme Networks in a report on Wednesday, February 7th. Craig Hallum reaffirmed a “buy” rating and set a $17.00 price objective (up previously from $12.50) on shares of Extreme Networks in a report on Wednesday, November 8th. Finally, ValuEngine downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $16.08.

Extreme Networks (EXTR) traded up $0.60 during trading hours on Monday, reaching $11.13. The company’s stock had a trading volume of 3,911,647 shares, compared to its average volume of 3,370,000. Extreme Networks has a 12-month low of $5.65 and a 12-month high of $15.55. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.89 and a current ratio of 1.13. The firm has a market cap of $1,260.00, a P/E ratio of -58.58, a price-to-earnings-growth ratio of 1.03 and a beta of 1.31.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. The firm had revenue of $231.12 million for the quarter, compared to the consensus estimate of $241.49 million. During the same quarter in the prior year, the business earned $0.12 EPS. The business’s revenue for the quarter was up 47.8% compared to the same quarter last year. analysts forecast that Extreme Networks will post 0.6 EPS for the current fiscal year.

In other news, Director Raj Khanna sold 10,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was 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 of the company’s stock, valued at approximately $1,374,412.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles Carinalli sold 20,000 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $12.91, for a total value of $258,200.00. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of Extreme Networks by 474.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,593,826 shares of the technology company’s stock valued at $14,695,000 after purchasing an additional 1,316,604 shares during the period. California Public Employees Retirement System lifted its stake in shares of Extreme Networks by 3.0% in the 2nd quarter. California Public Employees Retirement System now owns 331,300 shares of the technology company’s stock valued at $3,055,000 after purchasing an additional 9,800 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of Extreme Networks by 31.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 61,569 shares of the technology company’s stock valued at $568,000 after purchasing an additional 14,598 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Extreme Networks by 20.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,260 shares of the technology company’s stock valued at $602,000 after purchasing an additional 10,962 shares during the period. Finally, Moloney Securities Asset Management LLC lifted its stake in shares of Extreme Networks by 220.5% in the 4th quarter. Moloney Securities Asset Management LLC now owns 78,100 shares of the technology company’s stock valued at $978,000 after purchasing an additional 53,732 shares during the period. 82.00% of the stock is currently owned by institutional investors.

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About Extreme Networks

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.

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