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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/19/q3-2017-earnings-forecast-for-extreme-networks-inc-issued-by-da-davidson-extr.html
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.
Receive News & Ratings for Extreme Networks Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Extreme Networks Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.