Extreme Networks (NASDAQ:EXTR) Upgraded at Wall Street Zen

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

EXTR has been the topic of a number of other reports. Craig Hallum reissued a “buy” rating and set a $31.00 target price on shares of Extreme Networks in a report on Thursday. Bank of America raised their price target on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a report on Monday, June 8th. Rosenblatt Securities reduced their price objective on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Finally, Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Extreme Networks Stock Down 1.8%

Shares of EXTR stock opened at $23.54 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.81 and a current ratio of 0.93. The firm’s 50-day moving average is $30.18 and its 200-day moving average is $21.98. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 75.94, a PEG ratio of 1.46 and a beta of 1.79. Extreme Networks has a 52-week low of $13.48 and a 52-week high of $33.73.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $338.55 million during the quarter, compared to analysts’ expectations of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.Extreme Networks’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. Sell-side analysts predict that Extreme Networks will post 0.81 EPS for the current year.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 50,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $29.79, for a total value of $1,489,500.00. Following the transaction, the chief executive officer directly owned 1,596,475 shares in the company, valued at approximately $47,558,990.25. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the completion of the sale, the chief financial officer owned 151,296 shares of the company’s stock, valued at $4,603,937.28. This trade represents a 18.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 422,182 shares of company stock valued at $11,905,205. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Extreme Networks in the second quarter valued at approximately $674,661,000. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 349,199 shares in the last quarter. State Street Corp grew its holdings in shares of Extreme Networks by 3.9% during the 4th quarter. State Street Corp now owns 5,664,493 shares of the technology company’s stock worth $94,314,000 after purchasing an additional 213,094 shares in the last quarter. Paradigm Capital Management Inc. NY increased its position in shares of Extreme Networks by 5.3% in the first quarter. Paradigm Capital Management Inc. NY now owns 5,234,900 shares of the technology company’s stock worth $78,942,000 after purchasing an additional 262,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Extreme Networks by 7.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,247,680 shares of the technology company’s stock worth $48,975,000 after purchasing an additional 230,617 shares during the period. 91.05% of the stock is 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.