Brokerages Set Extreme Networks, Inc. (NASDAQ:EXTR) Target Price at $32.25

Extreme Networks, Inc. (NASDAQ:EXTR) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.25.

A number of equities research analysts have issued reports on EXTR shares. Rosenblatt Securities cut their price objective on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Bank of America upped their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Craig Hallum reaffirmed a “buy” rating and set a $31.00 target price on shares of Extreme Networks in a research note on Thursday, August 6th. Finally, B. Riley Financial boosted their price target on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th.

Insider Transactions at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 21,825 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $22.30, for a total transaction of $486,697.50. Following the completion of the transaction, the chief financial officer directly owned 196,803 shares in the company, valued at approximately $4,388,706.90. This represents a 9.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,596,475 shares of the company’s stock, valued at approximately $47,558,990.25. This trade represents a 3.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Extreme Networks in the second quarter worth about $674,661,000. Paradigm Capital Management Inc. NY purchased a new stake in Extreme Networks during the second quarter valued at approximately $137,291,000. Bank of America Corp DE purchased a new stake in Extreme Networks during the second quarter valued at approximately $45,531,000. SEB Asset Management AB bought a new stake in shares of Extreme Networks in the 1st quarter valued at approximately $12,192,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Extreme Networks in the 2nd quarter worth approximately $23,896,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

Shares of Extreme Networks stock opened at $22.11 on Friday. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 71.32, a PEG ratio of 1.50 and a beta of 1.76. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63. The stock’s 50-day simple moving average is $25.00 and its 200-day simple moving average is $23.73. Extreme Networks has a 52 week low of $13.48 and a 52 week high of $33.73.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $338.55 million during the quarter, compared to analysts’ expectations of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. As a group, analysts expect that Extreme Networks will post 0.75 earnings per share for the current fiscal year.

About Extreme Networks

Extreme Networks, Inc (NASDAQ: EXTR) provides cloud-driven networking solutions for enterprises and organizations. Its portfolio includes wired and wireless network infrastructure, Ethernet switches, wireless access points, routers, network management software, analytics, and security tools designed to help customers build, monitor, and operate modern networks.

The company’s cloud networking offerings include ExtremeCloud IQ, a platform for managing and analyzing network environments across distributed locations.