Q3 EPS Estimates for Extreme Networks Lowered by B. Riley

Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) - Analysts at B. Riley dropped their Q3 2026 earnings estimates for shares of Extreme Networks in a report issued on Thursday, May 1st. B. Riley analyst D. Kang now expects that the technology company will post earnings per share of $0.12 for the quarter, down from their previous forecast of $0.13. The consensus estimate for Extreme Networks' current full-year earnings is $0.31 per share.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. The firm had revenue of $284.51 million during the quarter, compared to analysts' expectations of $280.32 million. During the same quarter in the prior year, the firm posted ($0.19) EPS. The company's revenue for the quarter was up 34.8% on a year-over-year basis.

Several other brokerages have also weighed in on EXTR. UBS Group decreased their target price on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a report on Wednesday, April 30th. Rosenblatt Securities reissued a "buy" rating and issued a $18.00 target price on shares of Extreme Networks in a report on Thursday, May 1st. Finally, Lake Street Capital decreased their price target on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.58.

Extreme Networks Stock Performance

EXTR traded up $0.36 during trading on Monday, reaching $14.55. 1,635,010 shares of the company's stock were exchanged, compared to its average volume of 1,422,800. The company has a market capitalization of $1.94 billion, a P/E ratio of -15.48, a PEG ratio of 3.06 and a beta of 1.67. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The business has a 50 day moving average price of $13.30 and a 200 day moving average price of $15.34. Extreme Networks has a fifty-two week low of $10.10 and a fifty-two week high of $19.24.

Institutional Trading of Extreme Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Extreme Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock worth $299,965,000 after acquiring an additional 690,262 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Extreme Networks by 13.9% in the first quarter. Victory Capital Management Inc. now owns 5,012,386 shares of the technology company's stock valued at $66,314,000 after purchasing an additional 611,462 shares in the last quarter. Geode Capital Management LLC raised its position in Extreme Networks by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock worth $51,385,000 after purchasing an additional 49,888 shares during the last quarter. American Century Companies Inc. lifted its holdings in Extreme Networks by 11.4% during the 4th quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock worth $47,494,000 after buying an additional 290,184 shares in the last quarter. Finally, Trigran Investments Inc. boosted its position in Extreme Networks by 4.1% in the 4th quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock valued at $39,914,000 after buying an additional 94,508 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total value of $490,504.25. Following the completion of the transaction, the chief executive officer now owns 1,510,719 shares in the company, valued at approximately $20,742,171.87. The trade was a 2.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.

Extreme Networks declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

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.