Extreme Networks, Inc. (NASDAQ:EXTR) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Extreme Networks, with seven buy ratings, one hold and one sell. The average 12-month price target is $32.25, above the reported $22.63 opening price.
• Extreme Networks exceeded quarterly expectations, reporting adjusted EPS of $0.32 versus the $0.29 consensus and revenue of $338.55 million, up 10.3% year over year.
• Institutional investors own 91.05% of the company, while insiders have sold 301,825 shares worth approximately $8.7 million over the past three months, including sales by the CEO and CFO.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) has been given an average rating of "Moderate Buy" by the nine ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $32.25.

EXTR has been the topic of several research analyst reports. B. Riley Financial lifted 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. Craig Hallum restated a "buy" rating and set a $31.00 target price on shares of Extreme Networks in a research report on Thursday, August 6th. Needham & Company LLC cut 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. Lake Street Capital upped their price target on shares of Extreme Networks from $25.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $30.43, for a total value of $1,065,050.00. Following the transaction, the chief financial officer directly owned 151,296 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, CEO Edward Meyercord sold 100,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the completion of the sale, the chief executive officer directly owned 1,621,902 shares of the company's stock, valued at $47,359,538.40. The trade was 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. Over the last three months, insiders have sold 301,825 shares of company stock worth $8,709,148. 3.60% of the stock is owned by company insiders.

Institutional Trading of Extreme Networks

A number of hedge funds have recently added to or reduced their stakes in EXTR. BlackRock Inc. purchased a new position in shares of Extreme Networks in the 2nd quarter valued at approximately $674,661,000. Vanguard Group Inc. raised its stake in shares of Extreme Networks by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company's stock worth $318,219,000 after purchasing an additional 349,199 shares during the last quarter. State Street Corp raised its stake in shares of Extreme Networks by 3.9% during the fourth quarter. State Street Corp now owns 5,664,493 shares of the technology company's stock worth $94,314,000 after purchasing an additional 213,094 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its holdings in shares of Extreme Networks by 5.3% during the first quarter. Paradigm Capital Management Inc. NY now owns 5,234,900 shares of the technology company's stock worth $78,942,000 after purchasing an additional 262,400 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of Extreme Networks by 3,051.6% during the second quarter. California State Teachers Retirement System now owns 5,121,420 shares of the technology company's stock worth $158,215,000 after purchasing an additional 4,958,920 shares during the period. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Trading Up 1.1%

Shares of Extreme Networks stock opened at $22.63 on Wednesday. The company has a fifty day simple moving average of $28.78 and a 200-day simple moving average of $22.64. Extreme Networks has a 12-month low of $13.48 and a 12-month high of $33.73. 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 stock has a market cap of $2.95 billion, a price-to-earnings ratio of 73.00, a PEG ratio of 1.47 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued 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. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The company had revenue of $338.55 million for the quarter, compared to analyst estimates of $332.49 million. During the same quarter last year, the company posted $0.25 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. 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, equities analysts forecast that Extreme Networks will post 0.75 EPS for the current fiscal year.

About Extreme Networks

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.

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