Rosenblatt Securities Reaffirms “Buy” Rating for Extreme Networks (NASDAQ:EXTR)

Extreme Networks (NASDAQ:EXTR)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a report released on Thursday, Benzinga reports. They presently have a $38.00 price objective on the technology company’s stock. Rosenblatt Securities‘s target price suggests a potential upside of 66.37% from the company’s current price.

EXTR has been the topic of several other research reports. Craig Hallum reissued a “buy” rating and set a $31.00 target price on shares of Extreme Networks in a report on Thursday, August 6th. B. Riley Financial raised their price target on Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Oppenheimer reaffirmed an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC dropped 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. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Extreme Networks Stock Up 4.0%

Extreme Networks stock traded up $0.87 during mid-day trading on Thursday, reaching $22.84. 400,555 shares of the company’s stock were exchanged, compared to its average volume of 1,897,332. The company has a market cap of $3.02 billion, a P/E ratio of 73.65, a P/E/G ratio of 1.45 and a beta of 1.76. The company has a fifty day moving average of $22.44 and a 200-day moving average of $24.97. Extreme Networks has a twelve month low of $13.48 and a twelve month high of $33.73. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data 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 business had revenue of $338.55 million during the quarter, compared to analysts’ expectations of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous 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. Sell-side analysts expect that Extreme Networks will post 0.75 EPS for the current year.

Insider Activity

In other Extreme Networks news, CFO Kevin R. Rhodes sold 21,825 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $22.30, for a total transaction of $486,697.50. Following the sale, the chief financial officer directly owned 196,803 shares in the company, valued at $4,388,706.90. This represents a 9.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 that occurred 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 completion of the transaction, the chief executive officer directly owned 1,710,097 shares of the company’s stock, valued at $37,228,811.69. This represents a 2.84% decrease in their position. 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. Over the last 90 days, insiders sold 121,825 shares of company stock worth $3,064,698. 3.20% of the stock is 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 stock. Integrated Wealth Concepts LLC acquired a new position in Extreme Networks in the second quarter worth approximately $25,000. Public Employees Retirement System of Ohio acquired a new stake in Extreme Networks during the 2nd quarter valued at approximately $28,000. CoreCap Advisors LLC raised its holdings 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 purchasing an additional 504 shares during the last quarter. Nykredit A S acquired a new position in shares of Extreme Networks in the 2nd quarter worth approximately $48,000. Finally, Rockefeller Capital Management L.P. boosted its position in Extreme Networks by 313.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,484 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Company Profile

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.