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.
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/2016/09/15/buckingham-research-increases-extreme-networks-inc-extr-price-target-to-4-50.html
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.
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.