Extreme Networks to splash $55m on Brocade's data centre biz

Marco Green
April 1, 2017

The stock of Mosaic Co (NYSE:MOS) earned "Buy" rating by Stifel Nicolaus on Thursday, November 5. Needham reiterated EXTR shares as a "Buy" and moved their target price from $7.00 to $9.50.

When all is said and done later this year, both Broadcom and Extreme Networks will be larger, more well-equipped companies that ostensibly can work together in parallel fashion on enterprise networking installations. Moreover, Paradigm New York has 3.56% invested in Extreme Networks, Inc (NASDAQ:EXTR). One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. State Street Corp raised its position in shares of Extreme Networks by 9.1% in the fourth quarter. Bogle Investment Management L P DE now owns 278,894 shares of the company's stock worth $1,402,000 after buying an additional 238,769 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Extreme Networks by 2.5% in the fourth quarter. Buy rating has been given by 3 analysts to the company stock whereas 1 analyst given UNDERPERFORM rating to stock and 3 analysts given HOLD rating. Brocade's shares are little changed - up less than 0.5%. For EXTR, the company now has $103.79 Million of cash on the books, which is offset by $10.02 Million current liabilities. Analysts expect that Extreme Networks will post $0.40 earnings per share for the current fiscal year. The Company has 52-week high of $8.11 and 52-week low of $3.02. There was a stock increase by 14.24 percent. Institutional investors and hedge funds own 79.23% of the company's stock. Extreme Networks Inc's 50-day average is $6.44 and its 200-day moving average is $5.17. The company has market cap of $11.97 million.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, February 1st.

In the profitability analysis, net profit margin of the firm was recorded at -5.30% and operating profit margin was calculated at -4.00% while gross profit margin was measured as 51.60%. The company had revenue of $148.10 million for the quarter, compared to analyst estimates of $152.30 million. EPS for EXTR shares in 2014 were a loss of -$0.60, then in 2015 there was an EPS loss of-$0.72, followed in 2016 by a loss of -$0.31. Over the trailing year, the stock is outperforming the S&P 500 by 122.63, and it's gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. EPS growth in past five years was -65.90% while EPS growth in next five years is projected to arrive at 20.00%.

ILLEGAL ACTIVITY NOTICE: This story was first reported by [[site]] and is the sole property of of [[site]]. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of US & global trademark & copyright laws. According to these analysts, the Low Revenue Estimate for Extreme Networks Inc.is 155 Million and the High Revenue Estimate is 157 Million.

This is the latest in a series of acquisition deals Extreme has entered into over the last six months as it fleshes out its enterprise networking portfolio to include everything from edge networking to core data center products.

"Any of the new networking companies coming to market are positioning their business to be API-driven", the solution provider told CRN.

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