Extreme Networks (NASDAQ:EXTR) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Extreme Networks (NASDAQ:EXTR) from a strong-buy rating to a buy rating in a research note released on Saturday.

A number of other analysts also recently commented on the company. Weiss Ratings upgraded Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 1st. UBS Group set a $28.00 price objective on Extreme Networks in a report on Thursday, April 30th. Needham & Company LLC upped their price objective on Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Lake Street Capital restated a “buy” rating and set a $25.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Finally, B. Riley Financial restated a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

Extreme Networks Trading Down 0.2%

Shares of EXTR opened at $24.66 on Friday. The stock has a fifty day moving average of $17.59 and a two-hundred day moving average of $16.77. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91. The company has a market capitalization of $3.23 billion, a PE ratio of 205.50, a price-to-earnings-growth ratio of 2.33 and a beta of 1.77. Extreme Networks has a fifty-two week low of $13.48 and a fifty-two week high of $25.13.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.Extreme Networks’s revenue was up 11.4% on a year-over-year basis. During the same period 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, analysts forecast that Extreme Networks will post 0.53 EPS for the current year.

Insider Buying and Selling

In related news, Director Edward H. Kennedy sold 50,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $22.86, for a total transaction of $1,143,000.00. Following the completion of the sale, the director directly owned 576,045 shares of the company’s stock, valued at approximately $13,168,388.70. This represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward Meyercord sold 21,209 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $23.12, for a total transaction of $490,352.08. Following 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 trade represents a 1.17% 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. In the last three months, insiders sold 270,000 shares of company stock valued at $5,773,273. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Extreme Networks

A number of institutional investors have recently added to or reduced their stakes in EXTR. Alyeska Investment Group L.P. boosted its position in Extreme Networks by 301.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock worth $49,479,000 after purchasing an additional 2,232,373 shares during the period. Jain Global LLC purchased a new stake in Extreme Networks during the 4th quarter worth $17,361,000. SEB Asset Management AB purchased a new stake in Extreme Networks during the 1st quarter worth $12,192,000. Millennium Management LLC boosted its position in Extreme Networks by 163.0% during the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after purchasing an additional 781,103 shares during the period. Finally, Southernsun Asset Management LLC boosted its position in Extreme Networks by 46.9% during the 4th quarter. Southernsun Asset Management LLC now owns 1,970,886 shares of the technology company’s stock worth $32,815,000 after purchasing an additional 629,486 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

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.