Extreme Networks, Inc. has garnered a “Moderate Buy” consensus rating from seven brokerages currently covering the firm, according to a report by MarketBeat.com. Of the seven analysts, three have recommended holding the stock, while four have assigned a buy recommendation. The average twelve-month target price among these brokerages is $15.90.
Recent analyst reports have shed light on Extreme Networks’ performance. Needham & Company LLC reaffirmed its “buy” rating and set a price target of $16.50 on the company’s shares in a research note published on August 8th. Similarly, Craig Hallum raised its price target from $14.00 to $17.00 and issued a “buy” rating on the stock on the same day.
Several hedge funds have made changes to their positions in Extreme Networks. Healthcare of Ontario Pension Plan Trust Fund increased its stake in the company by 265.8% during the second quarter, now owning 731,500 shares valued at $9,839,000. Clearbridge Investments LLC also raised its holdings by 42.9% during the same period, now owning 855,541 shares valued at $11,507,000. Point72 Asset Management L.P. increased its position by 61.1%, owning 689,222 shares valued at $9,270,000. Clearline Capital LP and SkyView Investment Advisors LLC also made significant increases in their positions.
Extreme Networks’ stock opened at $14.93 on Wednesday, with a market capitalization of $1.94 billion. The company has a price-to-earnings ratio of -213.29 and a beta of 1.77. Its fifty-two week low is $10.49, while the high is $25.51. The stock’s 50-day simple moving average is $14.32, and its 200-day simple moving average is $12.65. Extreme Networks reported a negative net margin of 7.69% and a negative return on equity of 24.51% in its latest quarterly earnings results on August 7th. The company’s revenue for the quarter was $256.65 million, slightly surpassing analyst estimates of $253.21 million.