Needham Maintains a Hold Rating on Extreme Networks (EXTR)

In a report released today, Alex Henderson from Needham maintained a Hold rating on Extreme Networks (EXTRResearch Report). The company’s shares closed last Wednesday at $3.13.

According to, Henderson is a 5-star analyst with an average return of 12.3% and a 50.1% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and Ceragon Networks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Extreme Networks with a $8.50 average price target.

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Based on Extreme Networks’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $267 million and GAAP net loss of $23.54 million. In comparison, last year the company earned revenue of $253 million and had a net profit of $7.2 million.

Based on the recent corporate insider activity of 27 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.

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Extreme Networks, Inc. engages in providing software driven networking solutions for enterprise, data center, and service provider customers. It designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls. Its products include ExtremeApplications, ExtremeSwicthing, ExtremeRouting and ExtremeMobiliy. The company was founded in May 1996 and is headquartered in San Jose, CA.