Brokerages predict that Extreme Networks, Inc. (NASDAQ:EXTR) will post sales of $204.50 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Extreme Networks’ earnings. The highest sales estimate is $206.00 million and the lowest is $203.00 million. Extreme Networks reported sales of $122.64 million in the same quarter last year, which would suggest a positive year over year growth rate of 66.7%. The business is expected to report its next quarterly earnings report on Tuesday, November 7th.

On average, analysts expect that Extreme Networks will report full year sales of $204.50 million for the current year, with estimates ranging from $842.00 million to $873.80 million. For the next fiscal year, analysts anticipate that the business will report sales of $892.60 million per share, with estimates ranging from $880.20 million to $905.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Extreme Networks.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The company had revenue of $178.70 million for the quarter, compared to the consensus estimate of $171.96 million. Extreme Networks had a positive return on equity of 41.17% and a negative net margin of 1.42%. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share.

EXTR has been the subject of several analyst reports. BidaskClub lowered shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Zacks Investment Research lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Needham & Company LLC upped their price target on shares of Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. Finally, ValuEngine upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $11.67.

In other news, Director Kathleen M. Holmgren bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was bought at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the acquisition, the director now owns 36,662 shares in the company, valued at approximately $421,246.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward Meyercord sold 100,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $10.52, for a total transaction of $1,052,000.00. Following the sale, the insider now owns 471,653 shares of the company’s stock, valued at $4,961,789.56. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new stake in shares of Extreme Networks during the second quarter worth about $101,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Extreme Networks during the second quarter worth about $116,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Extreme Networks by 13.0% during the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock worth $124,000 after purchasing an additional 1,565 shares during the period. Amalgamated Bank boosted its holdings in shares of Extreme Networks by 10.9% during the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,378 shares during the period. Finally, FNY Partners Fund LP purchased a new stake in shares of Extreme Networks during the first quarter worth about $112,000. Institutional investors own 79.71% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Extreme Networks, Inc. (EXTR) Expected to Post Quarterly Sales of $204.50 Million” was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/09/extreme-networks-inc-extr-expected-to-post-quarterly-sales-of-204-50-million.html.

Extreme Networks (NASDAQ EXTR) opened at 12.47 on Monday. The company’s 50-day moving average price is $11.51 and its 200 day moving average price is $9.49. Extreme Networks has a 12 month low of $4.02 and a 12 month high of $13.20. The company’s market capitalization is $1.41 billion.

About Extreme Networks

Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.

Get a free copy of the Zacks research report on Extreme Networks (EXTR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Extreme Networks (NASDAQ:EXTR)

Receive News & Ratings for Extreme Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extreme Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.