Extreme Networks (NASDAQ:EXTR – Get Free Report) had its target price increased by analysts at B. Riley from $14.00 to $15.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. B. Riley’s target price would suggest a potential upside of 33.93% from the company’s previous close.
A number of other research analysts also recently commented on the company. TheStreet downgraded Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Craig Hallum reduced their target price on shares of Extreme Networks from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research note on Wednesday. Finally, UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $22.00 to $14.00 in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.50.
Read Our Latest Analysis on EXTR
Extreme Networks Stock Down 1.9 %
Extreme Networks (NASDAQ:EXTR – Get Free Report) last released its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. The company had revenue of $296.38 million during the quarter, compared to analysts’ expectations of $295.50 million. On average, equities analysts forecast that Extreme Networks will post 0.17 earnings per share for the current year.
Institutional Investors Weigh In On Extreme Networks
A number of hedge funds have recently bought and sold shares of EXTR. Pacer Advisors Inc. lifted its position in shares of Extreme Networks by 167,176.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after purchasing an additional 3,407,064 shares during the last quarter. Norges Bank bought a new position in Extreme Networks in the 4th quarter worth approximately $33,267,000. Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 17.0% during the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock worth $312,191,000 after buying an additional 1,877,727 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Extreme Networks in the third quarter valued at approximately $38,999,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Extreme Networks in the third quarter worth $33,920,000. 91.05% of the stock is currently owned by institutional investors.
Extreme Networks Company Profile
Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.
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