Needham & Company Reiterates Buy on Extreme Networks (EXTR)

August 31, 2016 6:53 AM EDT
Get Alerts EXTR Hot Sheet
Price: $4.28 +4.39%

Rating Summary:
    6 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
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Needham & Company reiterated a Buy rating and $4.30 price target on Extreme Networks (NASDAQ: EXTR). The Solution selling increased from 5% in FY15 to 12% in FY16, with 15-16% in FY2H16. Extreme expects to push this up toward 20% over the next 12-24 months.

Analyst Alex Henderson commented, "It sounds like Extreme's quarter is setting up well. Extreme noted that the impact of Brexit has been virtually nothing. That’s a good thing, as we were concerned about it impacting either European or UK sales. Extreme also noted that the tone out of Europe is good and they are encouraged by the adoption of management's initiatives in this key geography. Discount elimination taking hold: adding 1-2 points to growth and GMs. New Software and Aps are getting good traction. Extreme noted they are getting very good response on new products in Wireless. We come away encouraged by the visit."

For an analyst ratings summary and ratings history on Extreme Networks click here. For more ratings news on Extreme Networks click here.

Shares of Extreme Networks closed at $3.91 yesterday.

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