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Extreme Networks Inc. (EXTR) 2021 Stock Forecast: Bullish Outlook with 23.64% Upside

Extreme Networks Inc. (NASDAQ: EXTR) is 55.15% higher on its value in year-to-date trading and has touched a low of $2.74 and a high of $11.12 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The EXTR stock was last observed hovering at around $10.28 in the last trading session, with the day’s gains setting it 0.41% off its average median price target of $12.00 for the next 12 months. It is also 23.64% off the consensus price target high of $14.00 offered by 7 analysts, but current levels are -6.9% lower than the price target low of $10.00 for the same period.

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Currently trading at $10.69, the stock is 13.94% and 15.98% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.18 million and changing 3.99% at the moment leaves the stock 65.08% off its SMA200. EXTR registered 226.91% gain for a year compared to 6-month gain of 131.39%. The firm has a 50-day simple moving average (SMA 50) of $9.25 and a 200-day simple moving average (SMA200) of $7.47.

The stock witnessed a 26.21% loss in the last 1 month and extending the period to 3 months gives it a 42.53%, and is 10.89% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.70% over the week and 3.19% over the month.

Extreme Networks Inc. (EXTR) has around 2584 employees, a market worth around $1.28B and $903.00M in sales. Fwd P/E is 15.67. Profit margin for the company is -8.60%. Distance from 52-week low is 289.44% and -3.87% from its 52-week high. The company has generated returns on investments over the last 12 months (-25.30%).

Extreme Networks Inc. (EXTR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Extreme Networks Inc. (EXTR) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 2.40, where 3 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Extreme Networks Inc. is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.13 with sales reaching $244.62M over the same period.The EPS is expected to shrink by -383.00% this year, but quarterly earnings will post 3.00% year-over-year.

Extreme Networks Inc. (EXTR) Top Institutional Holders

262 institutions hold shares in Extreme Networks Inc. (EXTR), with 2.74M shares held by insiders accounting for 2.21% while institutional investors hold 83.88% of the company’s shares. The shares outstanding are 123.26M, and float is at 121.09M with Short Float at 3.99%. Institutions hold 82.03% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 17.61 million shares valued at $121.35 million. The investor’s holdings represent 14.23% of the EXTR Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 8.72 million shares valued at $60.1 million to account for 7.04% of the shares outstanding. The other top investors are Paradigm Capital Management which holds 7.3 million shares representing 5.89% and valued at over $50.27 million, while Renaissance Technologies, LLC holds 3.64% of the shares totaling 4.5 million with a market value of $31.01 million.

Extreme Networks Inc. (EXTR) Insider Activity

A total of 46 insider transactions have happened at Extreme Networks Inc. (EXTR) in the last six months, with sales accounting for 22 and purchases happening 24 times. The most recent transaction is an insider sale by Thomas Remi, the company’s EVP Chief Financial Officer. SEC filings show that Thomas Remi sold 25,000 shares of the company’s common stock on Apr 26 at a price of $10.00 per share for a total of $0.25 million. Following the sale, the insider now owns 67167.0 shares.

Extreme Networks Inc. disclosed in a document filed with the SEC on Apr 12 that Thomas Remi (EVP Chief Financial Officer) sold a total of 25,000 shares of the company’s common stock. The trade occurred on Apr 12 and was made at $9.30 per share for $0.23 million. Following the transaction, the insider now directly holds 92167.0 shares of the EXTR stock.

Still, SEC filings show that on Apr 01, MEYERCORD EDWARD (PRESIDENT AND CEO) disposed off 25,000 shares at an average price of $8.87 for $0.22 million. The insider now directly holds 570,174 shares of Extreme Networks Inc. (EXTR).

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Extreme Networks Inc. (EXTR): Who are the competitors?

The company’s main competitors (and peers) include Infinera Corporation (INFN) that is trading 51.57% up over the past 12 months. HP Inc. (HPQ) is 121.13% up on the 1-year trading charts. Short interest in the company’s stock has risen 8.87% from the last report on Apr 14, 2021 to stand at a total of 4.83 million short shares sold with a short interest ratio of 4.65.

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