Published On: Thu, Sep 15th, 2016

Buckingham Research Increases Extreme Networks Inc. (EXTR) Price Target to $4.50

Extreme Networks Inc. (NASDAQ:EXTR) had its price objective lifted by investment analysts at Buckingham Research from $4.00 to $4.50 in a research report issued to clients and investors on Thursday, StockTargetPrices.com reports. The brokerage currently has a “neutral” rating on the stock. Buckingham Research’s price target would suggest a potential upside of 12.22% from the company’s previous close.
Other analysts have also recently issued research reports about the company. DA Davidson upgraded Extreme Networks from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Thursday. Wunderlich increased their target price on Extreme Networks from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $4.30 target price on shares of Extreme Networks in a report on Wednesday, August 31st. Finally, Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Monday, August 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Extreme Networks has a consensus rating of “Buy” and a consensus price target of $4.97.
Extreme Networks (NASDAQ:EXTR) traded up 8.73% during trading on Thursday, reaching $4.36. The company’s stock had a trading volume of 876,301 shares. The stock’s 50 day moving average is $3.92 and its 200-day moving average is $3.51. Extreme Networks has a 52 week low of $2.32 and a 52 week high of $4.55. The firm’s market cap is $463.85 million.

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Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, August 3rd. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $140 million for the quarter, compared to analysts’ expectations of $141.89 million. Extreme Networks had a positive return on equity of 15.59% and a negative net margin of 6.03%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. On average, equities research analysts forecast that Extreme Networks will post $0.34 earnings per share for the current fiscal year.
In other Extreme Networks news, Director John H. Kispert sold 25,000 shares of Extreme Networks stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $3.80, for a total value of $95,000.00. Following the completion of the transaction, the director now directly owns 180,748 shares of the company’s stock, valued at approximately $686,842.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John H. Kispert sold 15,000 shares of Extreme Networks 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 completion of the transaction, the director now directly owns 170,748 shares of the company’s stock, valued at $682,992. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in EXTR. Smith Asset Management Group LP boosted its position in shares of Extreme Networks by 4.8% in the second quarter. Smith Asset Management Group LP now owns 878,930 shares of the company’s stock valued at $2,980,000 after buying an additional 40,620 shares in the last quarter. Boothbay Fund Management LLC boosted its position in shares of Extreme Networks by 26.3% in the first quarter. Boothbay Fund Management LLC now owns 366,697 shares of the company’s stock valued at $1,140,000 after buying an additional 76,422 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Extreme Networks by 84.0% in the first quarter. Panagora Asset Management Inc. now owns 151,521 shares of the company’s stock valued at $471,000 after buying an additional 69,168 shares in the last quarter. Barclays PLC boosted its position in shares of Extreme Networks by 54.0% in the first quarter. Barclays PLC now owns 536,353 shares of the company’s stock valued at $1,609,000 after buying an additional 188,153 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new position in shares of Extreme Networks during the first quarter valued at $117,000. 82.33% of the stock is owned by hedge funds and other institutional investors.
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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