Extreme Networks (NASDAQ:EXTR) Reaches New 52-Week High – Here’s Why

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) hit a new 52-week high on Thursday . The stock traded as high as $27.28 and last traded at $26.67, with a volume of 1565982 shares. The stock had previously closed at $27.02.

Analyst Upgrades and Downgrades

EXTR has been the topic of a number of recent research reports. B. Riley Financial reissued a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Weiss Ratings cut Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Lake Street Capital reissued a “buy” rating and issued a $25.00 target price on shares of Extreme Networks in a research note on Thursday, April 30th. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 24th. Finally, UBS Group set a $28.00 target price on Extreme Networks in a research note on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Extreme Networks has an average rating of “Moderate Buy” and an average price target of $25.50.

Extreme Networks Trading Up 1.1%

The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91. The stock has a market capitalization of $3.47 billion, a PE ratio of 220.92, a PEG ratio of 2.48 and a beta of 1.77. The stock has a 50-day moving average price of $19.74 and a two-hundred day moving average price of $17.23.

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, beating analysts’ consensus estimates of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The firm had revenue of $316.87 million for the quarter, compared to analysts’ expectations of $311.48 million. During the same period in the previous year, the firm earned $0.21 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, equities analysts forecast that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kathleen M. Holmgren sold 19,521 shares of the company’s stock in a transaction that occurred on 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 $5,434,452.24. This represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $23.20, for a total value of $232,000.00. Following the sale, the director directly owned 210,062 shares in the company, valued at $4,873,438.40. This trade represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 412,182 shares of company stock worth $9,456,028 in the last quarter. 3.60% of the stock is owned by insiders.

Institutional Trading of Extreme Networks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA purchased a new stake in Extreme Networks during the 1st quarter valued at $10,129,000. Bank of America Corp DE raised its holdings in Extreme Networks by 73.5% during the 1st quarter. Bank of America Corp DE now owns 757,072 shares of the technology company’s stock valued at $11,417,000 after buying an additional 320,743 shares during the period. Amundi raised its holdings in Extreme Networks by 21.4% during the 1st quarter. Amundi now owns 376,970 shares of the technology company’s stock valued at $5,685,000 after buying an additional 66,400 shares during the period. California State Teachers Retirement System raised its holdings in Extreme Networks by 27.1% during the 1st quarter. California State Teachers Retirement System now owns 162,500 shares of the technology company’s stock valued at $2,450,000 after buying an additional 34,696 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new stake in Extreme Networks during the 1st quarter valued at $6,961,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Company Profile

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.