Extreme Networks (EXTR) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Extreme Networks (NASDAQ:EXTR) posted its earnings results on Tuesday. The technology company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01, Bloomberg Earnings reports. Extreme Networks had a negative net margin of 2.72% and a positive return on equity of 44.41%. The business had revenue of $231.12 million for the quarter, compared to the consensus estimate of $241.49 million. During the same period last year, the company earned $0.12 EPS. The firm’s revenue was up 47.8% compared to the same quarter last year. Extreme Networks updated its Q3 guidance to $0.17-0.24 EPS.

Extreme Networks (EXTR) opened at $11.92 on Thursday. The stock has a market cap of $1,561.80, a P/E ratio of 32.02, a PEG ratio of 1.38 and a beta of 1.32. Extreme Networks has a 1 year low of $5.57 and a 1 year high of $15.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.31 and a quick ratio of 1.09.

In related news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total transaction of $138,100.00. Following the transaction, the director now owns 99,523 shares in the company, valued at approximately $1,374,412.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Carinalli sold 20,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $12.91, for a total transaction of $258,200.00. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

A number of research analysts have recently issued reports on EXTR shares. Zacks Investment Research downgraded shares of Extreme Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Craig Hallum restated a “buy” rating and issued a $17.00 price target (up previously from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Needham & Company LLC restated a “buy” rating on shares of Extreme Networks in a research report on Friday, November 10th. ValuEngine downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Cowen started coverage on shares of Extreme Networks in a research report on Wednesday, December 20th. They issued an “outperform” rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.08.

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Extreme Networks Company Profile

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.

Earnings History for Extreme Networks (NASDAQ:EXTR)

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