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

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) reached a new 52-week high on Friday . The company traded as high as $25.21 and last traded at $25.0510, with a volume of 435688 shares changing hands. The stock had previously closed at $23.90.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EXTR shares. UBS Group set a $28.00 target price on shares of Extreme Networks in a report on Thursday, April 30th. Needham & Company LLC raised their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday. Rosenblatt Securities reissued a “buy” rating and issued a $25.00 target price on shares of Extreme Networks in a report on Thursday, January 29th. Finally, Lake Street Capital reissued a “buy” rating and issued a $25.00 target price on shares of Extreme Networks in a report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.50.

Extreme Networks Stock Performance

The firm has a market capitalization of $3.35 billion, a P/E ratio of 213.33, a P/E/G ratio of 2.42 and a beta of 1.77. The firm has a 50-day moving average price of $18.58 and a two-hundred day moving average price of $16.93. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The business had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, analysts forecast that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other news, Director Edward H. Kennedy sold 50,000 shares of Extreme Networks stock in a transaction 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 sale, the director directly owned 576,045 shares in the company, valued at approximately $13,168,388.70. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward Meyercord sold 21,209 shares of Extreme Networks stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $23.12, for a total value of $490,352.08. Following the sale, the chief executive officer 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 297,182 shares of company stock valued at $6,448,528. 3.60% of the stock is owned by company insiders.

Institutional Trading of Extreme Networks

Several institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of Extreme Networks by 3.1% in the third quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company’s stock valued at $470,000 after acquiring an additional 683 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Extreme Networks by 1.8% in the third quarter. Arizona State Retirement System now owns 39,405 shares of the technology company’s stock valued at $814,000 after acquiring an additional 685 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Extreme Networks by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company’s stock valued at $426,000 after acquiring an additional 735 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Extreme Networks by 7.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock valued at $166,000 after acquiring an additional 735 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Extreme Networks by 3.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,633 shares of the technology company’s stock valued at $510,000 after acquiring an additional 900 shares in the last quarter. 91.05% of the stock is currently owned by 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.