JMP Securities analyst Erik Suppiger maintained a Buy rating on Extreme Networks (NASDAQ: EXTR) yesterday and set a price target of $9. The company’s shares closed yesterday at $5.06, close to its 52-week low of $4.81.
According to TipRanks.com, Suppiger is a 5-star analyst with an average return of 17.6% and a 58.4% success rate. Suppiger covers the Consumer Goods sector, focusing on stocks such as Palo Alto Networks, Ubiquiti Networks, and Pure Storage Inc.
Extreme Networks has an analyst consensus of Moderate Buy, with a price target consensus of $9.75.
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Based on Extreme Networks’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $5.63 million. In comparison, last year the company had a net profit of $4.38 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EXTR in relation to earlier this year. Earlier this month, Edward H. Kennedy, a Director at EXTR bought 15,000 shares for a total of $58,050.
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Extreme Networks, Inc. engages in the development and sale of network infrastructure equipment. It designs and develops wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.
