Extreme Networks (NASDAQ:EXTR) Reaches New 1-Year High - Still a Buy?

Key Points

• Extreme Networks hit a new 52-week high, trading as high as $32.29, as the stock continued a recent run higher.
• Several analysts remain positive: Lake Street lifted its price target to $34, and the consensus rating is now Moderate Buy with an average target of $30.83.
• The company beat quarterly expectations with EPS of $0.26 and revenue of $316.87 million, while reporting 11.4% year-over-year revenue growth.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $32.29 and last traded at $31.7690, with a volume of 204879 shares trading hands. The stock had previously closed at $31.38.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EXTR. Lake Street Capital increased their price target on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 24th. B. Riley Financial restated a "buy" rating on shares of Extreme Networks in a research note on Thursday, April 30th. Weiss Ratings downgraded Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 15th. Finally, Needham & Company LLC lifted their target price on Extreme Networks from $21.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $30.83.

Extreme Networks Trading Up 1.4%

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 stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 265.17, a PEG ratio of 2.96 and a beta of 1.80. The firm has a 50-day moving average of $24.14 and a 200 day moving average of $18.56.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $316.87 million during the quarter, compared to analyst estimates of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, equities analysts predict that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity at Extreme Networks

In related news, Director Kathleen M. Holmgren sold 19,521 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $24.78, for a total transaction of $483,730.38. Following the transaction, the director owned 219,308 shares in the company, valued at $5,434,452.24. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katayoun Motiey sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $31.03, for a total transaction of $930,900.00. Following the transaction, the insider owned 120,834 shares in the company, valued at $3,749,479.02. This represents a 19.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 642,182 shares of company stock valued at $16,188,978 over the last quarter. Corporate insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Extreme Networks

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extreme Networks in the third quarter valued at $31,000. Rockefeller Capital Management L.P. raised its position in Extreme Networks by 313.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company's stock worth $33,000 after acquiring an additional 1,484 shares in the last quarter. Quarry LP raised its position in Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company's stock worth $54,000 after acquiring an additional 1,118 shares in the last quarter. CWM LLC lifted its holdings in Extreme Networks by 51.7% in the 4th quarter. CWM LLC now owns 3,179 shares of the technology company's stock valued at $53,000 after acquiring an additional 1,084 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Extreme Networks by 136.8% during the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company's stock valued at $54,000 after purchasing an additional 1,861 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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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