Extreme Networks’ (EXTR) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a report released on Thursday morning,Benzinga reports. They currently have a $38.00 price objective on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. Craig Hallum restated a “buy” rating and issued a $31.00 price objective on shares of Extreme Networks in a report on Thursday, August 6th. B. Riley Financial upped their target price 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. Needham & Company LLC reduced their target price on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Oppenheimer restated an “outperform” rating on shares of Extreme Networks in a research note on Thursday, August 6th. Finally, Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Extreme Networks Price Performance

EXTR stock opened at $21.97 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $2.90 billion, a PE ratio of 70.87, a P/E/G ratio of 1.45 and a beta of 1.76. Extreme Networks has a 12-month low of $13.48 and a 12-month high of $33.73. The business’s fifty day moving average price is $22.44 and its 200 day moving average price is $24.90.

Extreme Networks (NASDAQ:EXTR) last posted 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 for the quarter, compared to analyst estimates of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%. Extreme Networks’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior 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. On average, sell-side analysts anticipate that Extreme Networks will post 0.75 EPS for the current year.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 50,000 shares of Extreme Networks stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $21.77, for a total transaction of $1,088,500.00. Following the sale, the chief executive officer directly owned 1,710,097 shares in the company, valued at $37,228,811.69. This trade represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin Rhodes sold 21,825 shares of Extreme Networks stock in a transaction 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 sale, the chief financial officer owned 196,803 shares in the company, valued at $4,388,706.90. This represents a 9.98% 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 have sold a total of 121,825 shares of company stock worth $3,064,698 over the last quarter. 3.20% of the stock is owned by company insiders.

Institutional Trading of Extreme Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First Bank & Trust lifted its holdings in shares of Extreme Networks by 2.4% in the 2nd quarter. First Bank & Trust now owns 13,191 shares of the technology company’s stock valued at $427,000 after purchasing an additional 306 shares during the last quarter. GAMMA Investing LLC grew its stake in Extreme Networks by 13.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,001 shares of the technology company’s stock worth $130,000 after buying an additional 465 shares during the last quarter. CoreCap Advisors LLC grew its stake in Extreme Networks by 72.3% during the 3rd quarter. CoreCap Advisors LLC now owns 1,201 shares of the technology company’s stock worth $26,000 after buying an additional 504 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Extreme Networks by 7.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock worth $166,000 after buying an additional 735 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Extreme Networks during the second quarter worth approximately $25,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

About Extreme Networks

Extreme Networks, Inc develops networking solutions that help organizations connect, manage and secure users, devices and applications across campus, data center and distributed environments. Its portfolio includes wired and wireless network infrastructure, Ethernet switches, access points, software-defined wide-area networking (SD-WAN), network access control and cloud-based network management.

The company’s ExtremeCloud platform supports centralized monitoring, configuration, analytics and automation for network operations.