Published On: Mon, Sep 19th, 2016

Q3 2017 Earnings Forecast for Extreme Networks Inc. Issued By DA Davidson (EXTR)

Extreme Networks Inc. (NASDAQ:EXTR) – Research analysts at DA Davidson raised their Q3 2017 EPS estimates for Extreme Networks in a research note issued on Thursday. DA Davidson analyst M. Kelleher now anticipates that the brokerage will post earnings per share of $0.03 for the quarter, up from their previous estimate of $0.02. DA Davidson currently has a “Buy” rating and a $5.00 price objective on the stock.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.10 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. Extreme Networks had a positive return on equity of 15.59% and a negative net margin of 6.03%. The firm had revenue of $140 million for the quarter, compared to analysts’ expectations of $141.89 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue was down 7.1% on a year-over-year basis.
Several other equities research analysts also recently commented on EXTR. Buckingham Research lifted their price objective on Extreme Networks from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Thursday. Wunderlich lifted their price objective on Extreme Networks from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Monday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $4.30 price objective on shares of Extreme Networks in a report on Wednesday, August 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Extreme Networks currently has an average rating of “Buy” and a consensus target price of $4.97.

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Shares of Extreme Networks (NASDAQ:EXTR) opened at 4.23 on Monday. Extreme Networks has a 12 month low of $2.32 and a 12 month high of $4.55. The company’s market capitalization is $450.02 million. The stock’s 50 day moving average price is $3.92 and its 200 day moving average price is $3.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. boosted its position in shares of Extreme Networks by 514.9% in the second quarter. Alliancebernstein L.P. now owns 3,784,477 shares of the company’s stock valued at $12,829,000 after buying an additional 3,168,967 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Extreme Networks by 12.3% in the second quarter. Vanguard Group Inc. now owns 7,141,041 shares of the company’s stock valued at $24,208,000 after buying an additional 783,864 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its position in shares of Extreme Networks by 9.3% in the second quarter. Paradigm Capital Management Inc. NY now owns 6,988,700 shares of the company’s stock valued at $23,692,000 after buying an additional 595,800 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Extreme Networks during the second quarter valued at about $1,828,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Extreme Networks by 108.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 853,106 shares of the company’s stock valued at $2,893,000 after buying an additional 443,781 shares during the last quarter. 82.33% of the stock is currently owned by institutional investors and hedge funds.
In other Extreme Networks news, Director John H. Kispert sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $3.80, for a total value of $95,000.00. Following the transaction, the director now directly owns 180,748 shares of the company’s stock, valued at $686,842.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John H. Kispert sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $4.00, for a total value of $60,000.00. Following the completion of the transaction, the director now directly owns 170,748 shares in the company, valued at $682,992. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
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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