Extreme Networks (NASDAQ:EXTR) Issues Q4 2024 Earnings Guidance

Extreme Networks (NASDAQ:EXTR - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.110-0.150 for the period, compared to the consensus estimate of 0.150. The company issued revenue guidance of $250.0 million-$260.0 million, compared to the consensus revenue estimate of $271.2 million. Extreme Networks also updated its FY 2024 guidance to 0.510-0.550 EPS.

Extreme Networks Stock Performance

NASDAQ EXTR traded up $0.25 during trading hours on Wednesday, reaching $11.45. 4,940,597 shares of the company were exchanged, compared to its average volume of 2,102,031. Extreme Networks has a 1 year low of $10.57 and a 1 year high of $32.73. The business's 50 day simple moving average is $11.57 and its 200-day simple moving average is $14.91. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $1.47 billion, a P/E ratio of 19.08, a P/E/G ratio of 4.12 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.05). Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. The company had revenue of $296.38 million for the quarter, compared to analysts' expectations of $295.50 million. On average, equities research analysts expect that Extreme Networks will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

EXTR has been the subject of a number of research analyst reports. Rosenblatt Securities downgraded shares of Extreme Networks from a buy rating to a neutral rating and decreased their price objective for the stock from $19.00 to $15.00 in a report on Thursday, February 1st. TheStreet downgraded shares of Extreme Networks from a b- rating to a c+ rating in a research note on Tuesday, February 20th. StockNews.com lowered shares of Extreme Networks from a buy rating to a hold rating in a research report on Thursday, February 1st. B. Riley raised shares of Extreme Networks from a neutral rating to a buy rating and set a $14.00 price target on the stock in a research report on Monday, April 15th. Finally, Needham & Company LLC reissued a buy rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Wednesday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Extreme Networks presently has an average rating of Hold and a consensus target price of $22.36.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 28,443 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total transaction of $376,585.32. Following the sale, the chief executive officer now owns 1,129,611 shares of the company's stock, valued at approximately $14,956,049.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.32% of the stock is currently owned by insiders.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation. The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.