Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Recommendation of “Moderate Buy” from Analysts

Extreme Networks, Inc. (NASDAQ:EXTR) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $32.25.

Several research analysts recently commented on EXTR shares. Needham & Company LLC reduced their target price on Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Craig Hallum restated a “buy” rating and issued a $31.00 price objective on shares of Extreme Networks in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Finally, Lake Street Capital upped 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, June 15th.

Extreme Networks Stock Performance

Shares of EXTR opened at $22.58 on Wednesday. The stock’s 50-day moving average price is $28.28 and its 200 day moving average price is $22.80. 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 firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 72.84, a P/E/G ratio of 1.49 and a beta of 1.79. Extreme Networks has a 12-month low of $13.48 and a 12-month high of $33.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $338.55 million during the quarter, compared to the consensus estimate of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. 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, research analysts predict that Extreme Networks will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In other Extreme Networks news, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks 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 sale, the chief financial officer directly owned 151,296 shares of the company’s stock, valued at approximately $4,603,937.28. The trade was a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward Meyercord sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $2,920,000.00. Following the completion of the sale, the chief executive officer owned 1,621,902 shares in the company, valued at approximately $47,359,538.40. This represents a 5.81% 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. Insiders sold a total of 244,325 shares of company stock worth $7,117,148 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Extreme Networks in the 2nd quarter valued at $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extreme Networks during the 3rd quarter worth about $31,000. Rockefeller Capital Management L.P. increased its position in shares of Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,484 shares in the last quarter. Nykredit A S bought a new position in Extreme Networks during the 2nd quarter valued at about $48,000. Finally, CWM LLC lifted its holdings in Extreme Networks by 51.7% during the 4th quarter. CWM LLC now owns 3,179 shares of the technology company’s stock valued at $53,000 after purchasing an additional 1,084 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Company Profile

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.