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

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

Several other brokerages have also issued reports on EXTR. Lake Street Capital boosted their price target on Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Rosenblatt Securities raised their price objective on shares of Extreme Networks from $29.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Weiss Ratings upgraded shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. B. Riley Financial reiterated a “buy” rating on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Needham & Company LLC increased their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Extreme Networks presently has a consensus rating of “Moderate Buy” and an average price target of $30.83.

Extreme Networks Stock Performance

Shares of EXTR opened at $30.34 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The firm’s fifty day simple moving average is $28.99 and its two-hundred day simple moving average is $20.54. Extreme Networks has a 12 month low of $13.48 and a 12 month high of $33.73. The stock has a market capitalization of $3.97 billion, a P/E ratio of 252.83, a price-to-earnings-growth ratio of 1.86 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data 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. 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 business’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. As a group, analysts predict that Extreme Networks will post 0.53 EPS for the current year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,621,902 shares in the company, valued at $47,359,538.40. This trade represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathleen M. Holmgren sold 19,521 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $24.78, for a total transaction of $483,730.38. Following the sale, the director directly owned 219,308 shares of the company’s stock, valued at approximately $5,434,452.24. The trade was a 8.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 592,182 shares of company stock worth $15,423,978. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Several large investors have recently added to or reduced their stakes in EXTR. Vanguard Group Inc. boosted its holdings in Extreme Networks by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock worth $318,219,000 after acquiring an additional 349,199 shares during the last quarter. M&T Bank Corp grew its stake in shares of Extreme Networks by 547.7% in the 4th quarter. M&T Bank Corp now owns 77,937 shares of the technology company’s stock worth $1,298,000 after acquiring an additional 65,904 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Extreme Networks in the fourth quarter valued at about $1,009,000. Impax Asset Management Group plc raised its holdings in shares of Extreme Networks by 10.5% in the fourth quarter. Impax Asset Management Group plc now owns 945,178 shares of the technology company’s stock valued at $15,737,000 after purchasing an additional 90,000 shares during the last quarter. Finally, Abacus FCF Advisors LLC bought a new position in shares of Extreme Networks during the fourth quarter valued at about $6,439,000. Institutional investors own 91.05% of the company’s stock.

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.