Extreme Networks (NASDAQ:EXTR) Hits New 52-Week High – Still a Buy?

Extreme Networks, Inc. (NASDAQ:EXTR)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $31.68 and last traded at $31.4550, with a volume of 1518 shares changing hands. The stock had previously closed at $31.11.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 8th. B. Riley Financial reiterated a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 24th. Lake Street Capital raised their target price on shares of Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday. Finally, Weiss Ratings downgraded shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and a consensus target price of $30.83.

Extreme Networks Price Performance

The company’s 50-day simple moving average is $23.23 and its 200-day simple moving average is $18.27. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 262.58, a P/E/G ratio of 2.99 and a beta of 1.81.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Research analysts forecast that Extreme Networks, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the transaction, the chief executive officer directly owned 1,721,902 shares of the company’s stock, valued at approximately $44,941,642.20. This trade represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the transaction, the chief financial officer directly owned 151,296 shares in the company, valued at $4,603,937.28. This represents a 18.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 642,182 shares of company stock valued at $16,188,978 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. increased its stake in Extreme Networks by 301.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock valued at $49,479,000 after acquiring an additional 2,232,373 shares during the last quarter. Jain Global LLC bought a new position in Extreme Networks in the fourth quarter valued at approximately $17,361,000. SEB Asset Management AB bought a new position in Extreme Networks in the first quarter valued at approximately $12,192,000. Millennium Management LLC increased its stake in Extreme Networks by 163.0% in the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock valued at $16,675,000 after acquiring an additional 781,103 shares during the last quarter. Finally, Glenmede Trust Co. NA bought a new position in Extreme Networks in the first quarter valued at approximately $10,129,000. Institutional investors own 91.05% of the company’s stock.

About Extreme Networks

Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company’s product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme’s Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.