Fintel reports that on September 22, 2023, UBS initiated coverage of Extreme Networks (NASDAQ:EXTR) with a Buy recommendation.
Analyst Price Forecast Suggests 46.91% Upside
As of August 31, 2023, the average one-year price target for Extreme Networks is 33.95. The forecasts range from a low of 29.29 to a high of $37.80. The average price target represents an increase of 46.91% from its latest reported closing price of 23.11.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Extreme Networks is 1,439MM, an increase of 9.64%. The projected annual non-GAAP EPS is 1.41.
What is the Fund Sentiment?
There are 650 funds or institutions reporting positions in Extreme Networks. This is an increase of 30 owner(s) or 4.84% in the last quarter. Average portfolio weight of all funds dedicated to EXTR is 0.28%, an increase of 0.86%. Total shares owned by institutions decreased in the last three months by 2.76% to 128,274K shares. 
The put/call ratio of EXTR is 1.87, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 5,839K shares representing 4.51% ownership of the company. No change in the last quarter.
Paradigm Capital Management holds 5,241K shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 5,344K shares, representing a decrease of 1.98%. The firm increased its portfolio allocation in EXTR by 14.94% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,039K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 4,024K shares, representing an increase of 0.36%. The firm increased its portfolio allocation in EXTR by 26.16% over the last quarter.
Goldman Sachs Group holds 3,494K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 2,959K shares, representing an increase of 15.32%. The firm increased its portfolio allocation in EXTR by 422.95% over the last quarter.
Millennium Management holds 2,971K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 1,968K shares, representing an increase of 33.77%. The firm increased its portfolio allocation in EXTR by 76.92% over the last quarter.
Extreme Networks Background Information
(This description is provided by the company.)
Extreme Networks, Inc. (EXTR) creates effortless networking experiences that enable all of us to advance. It pushes the boundaries of technology leveraging the powers of machine learning, artificial intelligence, analytics, and automation. Over 50,000 customers globally trust its end-to-end, cloud-driven networking solutions and rely on its top-rated services and support to accelerate their digital transformation efforts and deliver progress like never before.
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This story originally appeared on Fintel.
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