Equities researchers at JMP Securities started coverage on shares of Extreme Networks (NASDAQ:EXTR) in a research note issued to investors on Wednesday, January 3rd, Marketbeat reports. The brokerage set an “outperform” rating and a $16.00 price target on the technology company’s stock. JMP Securities’ target price points to a potential upside of 16.28% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating on shares of Extreme Networks in a research note on Friday, November 10th. Craig Hallum reiterated a “buy” rating and issued a $17.00 price target (up previously from $12.50) on shares of Extreme Networks in a research note on Wednesday, November 8th. ValuEngine cut Extreme Networks from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Cowen assumed coverage on Extreme Networks in a research note on Wednesday, December 20th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Friday, November 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $14.17.

Shares of Extreme Networks (NASDAQ:EXTR) opened at $13.76 on Wednesday. Extreme Networks has a 1 year low of $5.22 and a 1 year high of $14.60. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.31 and a quick ratio of 1.09. The company has a market capitalization of $1,570.87, a price-to-earnings ratio of 32.21, a PEG ratio of 1.35 and a beta of 1.14.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. Extreme Networks had a return on equity of 46.58% and a net margin of 0.34%. The firm had revenue of $211.72 million during the quarter, compared to the consensus estimate of $203.86 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 72.5% compared to the same quarter last year. analysts expect that Extreme Networks will post 0.6 EPS for the current year.

In related news, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 99,523 shares of the company’s stock, valued at approximately $1,374,412.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles Carinalli sold 20,000 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was 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.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its position in Extreme Networks by 10.9% in the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,378 shares during the period. Ameritas Investment Partners Inc. lifted its position in Extreme Networks by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock worth $124,000 after purchasing an additional 1,565 shares during the period. Legal & General Group Plc lifted its position in Extreme Networks by 7.4% in the second quarter. Legal & General Group Plc now owns 26,483 shares of the technology company’s stock worth $245,000 after purchasing an additional 1,819 shares during the period. The Manufacturers Life Insurance Company lifted its position in Extreme Networks by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 84,882 shares of the technology company’s stock worth $782,000 after purchasing an additional 3,319 shares during the period. Finally, Voya Investment Management LLC lifted its position in Extreme Networks by 7.8% in the second quarter. Voya Investment Management LLC now owns 51,883 shares of the technology company’s stock worth $478,000 after purchasing an additional 3,773 shares during the period. Hedge funds and other institutional investors own 81.59% of the company’s stock.

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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.

Analyst Recommendations for Extreme Networks (NASDAQ:EXTR)

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