Shares of Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) shot up 8.9% on Thursday . The company traded as high as $24.51 and last traded at $24.7880. 1,825,178 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 2,056,311 shares. The stock had previously closed at $22.77.
Analyst Upgrades and Downgrades
EXTR has been the subject of a number of analyst reports. Weiss Ratings raised shares of Extreme Networks from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 1st. Lake Street Capital reaffirmed a "buy" rating and set a $25.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 3rd. Rosenblatt Securities reissued a "buy" rating and issued a $25.00 price objective on shares of Extreme Networks in a report on Thursday, January 29th. Finally, B. Riley Financial restated a "buy" rating on shares of Extreme Networks in a research report on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.
Get Our Latest Stock Analysis on EXTR
Extreme Networks Stock Up 8.7%
The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 206.22, a price-to-earnings-growth ratio of 2.15 and a beta of 1.77. The stock's 50 day moving average is $17.17 and its 200 day moving average is $16.68. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89.
Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The firm 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 period last year, the company posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Analysts forecast that Extreme Networks, Inc. will post 0.53 EPS for the current year.
Insiders Place Their Bets
In other Extreme Networks news, CEO Edward Meyercord sold 21,209 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $23.12, for a total value of $490,352.08. Following the completion of the sale, the chief executive officer directly owned 1,797,270 shares of the company's stock, valued at approximately $41,552,882.40. This represents a 1.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Edward H. Kennedy sold 50,000 shares of Extreme Networks stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $22.86, for a total transaction of $1,143,000.00. Following the completion of the transaction, the director directly owned 576,045 shares in the company, valued at $13,168,388.70. This represents a 7.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 270,000 shares of company stock worth $5,773,273. 3.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Extreme Networks
A number of institutional investors and hedge funds have recently modified their holdings of EXTR. Arrowstreet Capital Limited Partnership grew its holdings in shares of Extreme Networks by 7.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,247,680 shares of the technology company's stock worth $48,975,000 after acquiring an additional 230,617 shares during the last quarter. Sei Investments Co. boosted its position in shares of Extreme Networks by 50.8% in the 1st quarter. Sei Investments Co. now owns 360,866 shares of the technology company's stock valued at $5,442,000 after purchasing an additional 121,535 shares during the period. Lido Advisors LLC increased its stake in Extreme Networks by 21.9% in the 1st quarter. Lido Advisors LLC now owns 21,983 shares of the technology company's stock worth $332,000 after purchasing an additional 3,945 shares in the last quarter. State of Wyoming increased its stake in Extreme Networks by 41.2% in the 1st quarter. State of Wyoming now owns 29,942 shares of the technology company's stock worth $452,000 after purchasing an additional 8,731 shares in the last quarter. Finally, Southernsun Asset Management LLC raised its holdings in Extreme Networks by 16.6% during the 1st quarter. Southernsun Asset Management LLC now owns 2,297,933 shares of the technology company's stock worth $34,653,000 after buying an additional 327,047 shares during the period. Institutional investors and hedge funds own 91.05% of the company's stock.
About Extreme Networks
(
Get Free Report)
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.
Further Reading
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