Extreme Networks (NASDAQ:EXTR) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research analysts have also issued reports on EXTR. ValuEngine lowered Extreme Networks from a “hold” rating to a “sell” rating in a report on Friday, December 7th. Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Tuesday, January 8th. Finally, DA Davidson set a $13.00 price target on Extreme Networks and gave the stock a “buy” rating in a report on Monday, January 14th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Extreme Networks has an average rating of “Hold” and an average price target of $9.00.

Shares of NASDAQ:EXTR opened at $7.61 on Wednesday. The company has a market capitalization of $901.39 million, a price-to-earnings ratio of 17.30, a PEG ratio of 2.02 and a beta of 1.26. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.04 and a current ratio of 1.23. Extreme Networks has a 52-week low of $4.81 and a 52-week high of $13.05.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Tuesday, January 29th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. The business had revenue of $252.70 million for the quarter, compared to analyst estimates of $244.45 million. Extreme Networks had a positive return on equity of 36.26% and a negative net margin of 2.04%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share. Equities research analysts anticipate that Extreme Networks will post 0.27 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of EXTR. Bank of America Corp DE lifted its holdings in shares of Extreme Networks by 97.6% in the second quarter. Bank of America Corp DE now owns 143,902 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 71,078 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Extreme Networks by 442.4% in the third quarter. SG Americas Securities LLC now owns 427,436 shares of the technology company’s stock valued at $2,342,000 after purchasing an additional 348,627 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Extreme Networks by 449.3% in the third quarter. JPMorgan Chase & Co. now owns 225,181 shares of the technology company’s stock valued at $1,235,000 after purchasing an additional 184,184 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Extreme Networks by 62.0% in the third quarter. Alliancebernstein L.P. now owns 3,047,897 shares of the technology company’s stock valued at $16,702,000 after purchasing an additional 1,166,520 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Extreme Networks by 4.5% in the third quarter. Bank of New York Mellon Corp now owns 1,463,932 shares of the technology company’s stock valued at $8,023,000 after purchasing an additional 63,343 shares in the last quarter. Institutional investors own 80.69% 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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