Extreme Networks (NASDAQ:EXTR) Given New $33.00 Price Target at Bank of America

Key Points

• Bank of America raised its price target on Extreme Networks from $28 to $33 and kept a buy rating, implying about 10% upside from the prior close.
• Recent analyst sentiment has been broadly positive, with multiple firms maintaining or raising ratings; the stock now has a Moderate Buy consensus and an average price target of $27.
• Extreme Networks shares rose to $30.00 on Monday after a strong earnings report that beat expectations, while insiders also disclosed notable stock sales in recent days.

Extreme Networks (NASDAQ:EXTR - Get Free Report) had its price objective increased by equities research analysts at Bank of America from $28.00 to $33.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Bank of America's price target points to a potential upside of 10.01% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 24th. Needham & Company LLC lifted their price target on Extreme Networks from $21.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. UBS Group set a $28.00 price target on Extreme Networks in a research note on Thursday, April 30th. B. Riley Financial reaffirmed a "buy" rating on shares of Extreme Networks in a research note on Thursday, April 30th. Finally, Lake Street Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of Extreme Networks in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.00.

Extreme Networks Stock Performance

Shares of EXTR stock traded up $1.98 on Monday, hitting $30.00. 781,226 shares of the stock were exchanged, compared to its average volume of 2,068,790. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $3.92 billion, a PE ratio of 250.04, a P/E/G ratio of 2.65 and a beta of 1.80. Extreme Networks has a one year low of $13.48 and a one year high of $30.16. The firm's 50 day moving average is $21.11 and its two-hundred day moving average is $17.62.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The business had revenue of $316.87 million for the quarter, compared to analysts' expectations of $311.48 million. During the same quarter in the prior year, the firm posted $0.21 EPS. The firm's quarterly revenue was up 11.4% on a year-over-year basis. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Sell-side analysts expect that Extreme Networks will post 0.53 earnings per share for the current fiscal year.

Insider Activity at Extreme Networks

In related news, insider Katayoun Motiey sold 7,500 shares of Extreme Networks stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $28.00, for a total transaction of $210,000.00. Following the sale, the insider directly owned 165,834 shares in the company, valued at $4,643,352. The trade was a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Edward Meyercord sold 100,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was 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 directly owned 1,621,902 shares in the company, valued at $47,359,538.40. This trade 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 569,682 shares of company stock valued at $13,968,028 over the last ninety days. Insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Extreme Networks

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Extreme Networks by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company's stock worth $318,219,000 after buying an additional 349,199 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Extreme Networks by 73,806.7% in the third quarter. Hillsdale Investment Management Inc. now owns 332,580 shares of the technology company's stock valued at $6,868,000 after purchasing an additional 332,130 shares in the last quarter. M&T Bank Corp grew its position in shares of Extreme Networks by 547.7% in the fourth quarter. M&T Bank Corp now owns 77,937 shares of the technology company's stock valued at $1,298,000 after purchasing an additional 65,904 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Extreme Networks in the fourth quarter valued at approximately $1,009,000. Finally, Counterpoint Mutual Funds LLC grew its position in shares of Extreme Networks by 203.7% in the third quarter. Counterpoint Mutual Funds LLC now owns 132,439 shares of the technology company's stock valued at $2,735,000 after purchasing an additional 88,835 shares in the last quarter. Institutional investors own 91.05% of the company's stock.

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.

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