Extreme Networks Inc. (NASDAQ:EXTR) – Investment analysts at DA Davidson dropped their Q2 2017 earnings per share estimates for shares of Extreme Networks in a research report issued to clients and investors on Thursday. DA Davidson analyst M. Kelleher now anticipates that the brokerage will post earnings per share of $0.03 for the quarter, down from their previous forecast of $0.05. DA Davidson currently has a “Buy” rating and a $5.00 target price on the stock. DA Davidson also issued estimates for Extreme Networks’ Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.20 EPS, Q1 2018 earnings at $0.05 EPS, Q2 2018 earnings at $0.07 EPS, Q3 2018 earnings at $0.07 EPS, Q4 2018 earnings at $0.08 EPS and FY2018 earnings at $0.29 EPS.
Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, August 3rd. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $140 million for the quarter, compared to analyst estimates of $141.89 million. Extreme Networks had a negative net margin of 6.03% and a positive return on equity of 15.59%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS.
Several other research firms have also commented on EXTR. Buckingham Research increased their price objective on shares of Extreme Networks from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday. Wunderlich increased their price objective on shares of Extreme Networks from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Monday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $4.30 price objective on shares of Extreme Networks in a research report on Wednesday, August 31st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $4.97.
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Shares of Extreme Networks (NASDAQ:EXTR) traded down 4.35% during midday trading on Friday, hitting $4.18. 571,691 shares of the stock were exchanged. The stock’s market cap is $444.70 million. The firm has a 50 day moving average of $3.94 and a 200-day moving average of $3.51. Extreme Networks has a 12 month low of $2.32 and a 12 month high of $4.55.
Large investors have recently made changes to their positions in the stock. Compagnie Lombard Odier SCmA increased its stake in shares of Extreme Networks by 50.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 30,000 shares of the company’s stock valued at $102,000 after buying an additional 10,000 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Extreme Networks during the second quarter valued at $105,000. Walleye Trading LLC increased its stake in shares of Extreme Networks by 346.6% in the second quarter. Walleye Trading LLC now owns 32,600 shares of the company’s stock valued at $111,000 after buying an additional 25,300 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Extreme Networks during the first quarter valued at $117,000. Finally, BlackRock Group LTD increased its stake in shares of Extreme Networks by 53.6% in the second quarter. BlackRock Group LTD now owns 38,518 shares of the company’s stock valued at $131,000 after buying an additional 13,441 shares in the last quarter. 82.33% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director John H. Kispert sold 15,000 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $4.00, for a total value of $60,000.00. Following the sale, the director now owns 170,748 shares of the company’s stock, valued at $682,992. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John H. Kispert sold 25,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $3.80, for a total transaction of $95,000.00. Following the completion of the sale, the director now directly owns 180,748 shares in the company, valued at approximately $686,842.40. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.
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.
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