Extreme Networks (NASDAQ:EXTR) Stock Rating Reaffirmed as Buy by Rosenblatt Securities

Extreme Networks (NASDAQ:EXTR - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $38.00 price target on the technology company's stock. Rosenblatt Securities's target price would suggest a potential upside of 70.63% from the stock's previous close.

A number of other brokerages have also weighed in on EXTR. Oppenheimer reaffirmed an "outperform" rating on shares of Extreme Networks in a research report on Thursday, August 6th. Craig Hallum restated a "buy" rating and issued a $31.00 target price on shares of Extreme Networks in a report on Thursday, August 6th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Needham & Company LLC lowered their price target 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. Finally, Weiss Ratings upgraded shares of Extreme Networks from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, October 16th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.25.

Extreme Networks Trading Down 1.2%

Shares of EXTR stock opened at $22.27 on Thursday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 71.67, a P/E/G ratio of 1.46 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 fifty day simple moving average is $22.53 and its 200 day simple moving average is $24.88. Extreme Networks has a twelve month low of $13.48 and a twelve month high of $33.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, beating analysts' consensus estimates 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%. The business's revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $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, sell-side analysts predict that Extreme Networks will post 0.75 EPS for the current fiscal year.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 50,000 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the transaction, the chief executive officer owned 1,596,475 shares in the company, valued at $47,558,990.25. The trade was a 3.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 21,825 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $22.30, for a total value of $486,697.50. Following the transaction, the chief financial officer owned 196,803 shares of the company's stock, valued at approximately $4,388,706.90. This represents a 9.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 121,825 shares of company stock worth $3,064,698. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company purchased a new position in shares of Extreme Networks during the second quarter valued at about $2,329,000. Oppenheimer Asset Management Inc. purchased a new stake in Extreme Networks during the second quarter valued at $2,931,000. Bank of New York Mellon Corp purchased a new position in shares of Extreme Networks in the 2nd quarter worth $23,896,000. Deutsche Bank AG bought a new position in shares of Extreme Networks in the 2nd quarter valued at about $11,240,000. Finally, Jupiter Topco LLC purchased a new stake in Extreme Networks during the second quarter valued at approximately $1,985,000. Institutional investors 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.