Notable Price Action: What’s Next for Extreme Networks, Inc After Making 52-Week High?

Notable Price Action: What's Next for Extreme Networks, Inc After Making 52 Week High?

The stock of Extreme Networks, Inc (NASDAQ:EXTR) hit a new 52-week high and has $10.03 target or 118.00% above today’s $4.60 share price. The 9 months bullish chart indicates low risk for the $486.14 million company. The 1-year high was reported on Oct, 3 by If the $10.03 price target is reached, the company will be worth $573.65 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 506,144 shares traded hands or 0.38% up from the average. Extreme Networks, Inc (NASDAQ:EXTR) has risen 59.22% since February 29, 2016 and is uptrending. It has outperformed by 47.00% the S&P500.

Analysts await Extreme Networks, Inc (NASDAQ:EXTR) to report earnings on November, 3. They expect $0.02 earnings per share, 0.00% or $0.00 from last year’s $0.02 per share. EXTR’s profit will be $2.11M for 57.50 P/E if the $0.02 EPS becomes a reality. After $0.07 actual earnings per share reported by Extreme Networks, Inc for the previous quarter, Wall Street now forecasts -71.43% negative EPS growth.

Extreme Networks, Inc (NASDAQ:EXTR) Ratings Coverage

Out of 4 analysts covering Extreme Networks Inc (NASDAQ:EXTR), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Extreme Networks Inc has been the topic of 7 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Needham maintained Extreme Networks, Inc (NASDAQ:EXTR) on Monday, September 19 with “Buy” rating. The stock of Extreme Networks, Inc (NASDAQ:EXTR) has “Buy” rating given on Thursday, September 10 by Wunderlich. Zacks upgraded Extreme Networks, Inc (NASDAQ:EXTR) rating on Friday, August 14. Zacks has “Hold” rating and $3.25 price target. The rating was maintained by Wunderlich on Thursday, September 15 with “Buy”. The company was upgraded on Thursday, September 15 by DA Davidson.

According to Zacks Investment Research, “Extreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs.”

Insitutional Activity: The institutional sentiment increased to 1.15 in 2016 Q2. Its up 0.26, from 0.89 in 2016Q1. The ratio increased, as 10 funds sold all Extreme Networks, Inc shares owned while 44 reduced positions. 15 funds bought stakes while 47 increased positions. They now own 83.51 million shares or 2.18% more from 81.73 million shares in 2016Q1.
Fmr Lc last reported 23,100 shares in the company. Strs Ohio holds 0% or 183,800 shares in its portfolio. Renaissance Tech Limited Liability Corporation reported 4.65M shares or 0.03% of all its holdings. Moreover, Vanguard Gp has 0% invested in Extreme Networks, Inc (NASDAQ:EXTR) for 7.14 million shares. Teacher Retirement Of Texas holds 0% or 14,307 shares in its portfolio. Rhumbline Advisers has invested 0% of its portfolio in Extreme Networks, Inc (NASDAQ:EXTR). Menta Limited Liability Company last reported 0.22% of its portfolio in the stock. The Florida-based State Board Of Administration Of Florida Retirement Systems has invested 0% in Extreme Networks, Inc (NASDAQ:EXTR). Connor Clark Lunn Investment Management Limited last reported 10,750 shares in the company. Axa accumulated 0% or 42,200 shares. Envestnet Asset Mgmt last reported 13,632 shares in the company. Ladenburg Thalmann Services Inc holds 0% of its portfolio in Extreme Networks, Inc (NASDAQ:EXTR) for 8,405 shares. Boothbay Fund Management Ltd Liability has 276,552 shares for 0.45% of their US portfolio. Morgan Stanley has invested 0% of its portfolio in Extreme Networks, Inc (NASDAQ:EXTR). Peak6 Lp last reported 10,828 shares in the company.

Insider Transactions: Since August 2, 2016, the stock had 0 insider purchases, and 3 sales for $218,638 net activity. The insider KISPERT JOHN H sold 15,000 shares worth $60,000. Shoemaker John C sold $63,750 worth of stock or 15,000 shares.

More notable recent Extreme Networks, Inc (NASDAQ:EXTR) news were published by: which released: “Extreme Networks Recognized as a Visionary in the 2016 Gartner Wired and …” on September 01, 2016, also with their article: “Extreme Networks Reports Fourth Quarter and Fiscal Year 2016 Financial Results” published on August 03, 2016, published: “Extreme Networks Introduces Customized Application Fingerprint to Address the …” on July 25, 2016. More interesting news about Extreme Networks, Inc (NASDAQ:EXTR) were released by: and their article: “Extreme Networks Advances Extreme Partner Network (EPN) to Focus on Partner …” published on July 12, 2016 as well as‘s news article titled: “Extreme Networks Agrees to Acquire Wireless LAN Business from Zebra Technologies” with publication date: September 14, 2016.

EXTR Company Profile

Extreme Networks, Inc., incorporated on January 7, 1999, is a well-known provider of network infrastructure equipment. The Firm focuses on corporate enterprises and metropolitan service providers on a global basis. The Firm operates through the development and marketing of network infrastructure equipment segment. The Company’s products include ExtremeWireless, ExtremeSwitching, ExtremeControl, ExtremeManagement, ExtremeCloud, ExtremeAnalytics and ExtremeSecurity. The Firm operates in geographical areas, including Americas, which includes the United States, Canada, Mexico, Central America and South America; EMEA, which includes Europe, Russia, Middle East and Africa, and APAC, which includes Asia Pacific, South Asia, India, Australia and Japan. The Firm conducts its sales and marketing activities through distributors, resellers and its field sales organization across the world.

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