Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Rating of “Moderate Buy” from Brokerages

Extreme Networks, Inc. (NASDAQ:EXTR) has earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $29.3333.

EXTR has been the subject of a number of recent research reports. Rosenblatt Securities lifted their price target on shares of Extreme Networks from $29.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 24th. Needham & Company LLC lifted their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Bank of America lifted their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday. Finally, UBS Group set a $28.00 target price on shares of Extreme Networks in a report on Thursday, April 30th.

Insider Activity

In other Extreme Networks news, Director Edward H. Kennedy sold 50,000 shares of Extreme Networks stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $22.86, for a total value of $1,143,000.00. Following the completion of the transaction, the director directly owned 576,045 shares of the company’s stock, valued at approximately $13,168,388.70. The trade was a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katayoun Motiey sold 15,000 shares of Extreme Networks stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $26.50, for a total transaction of $397,500.00. Following the completion of the transaction, the insider directly owned 173,334 shares of the company’s stock, valued at $4,593,351. This trade represents a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 577,182 shares of company stock valued at $14,193,028 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Extreme Networks Trading Up 8.7%

Shares of NASDAQ EXTR opened at $31.07 on Friday. Extreme Networks has a 1 year low of $13.48 and a 1 year high of $31.26. The stock has a market cap of $4.06 billion, a P/E ratio of 258.92, a price-to-earnings-growth ratio of 2.70 and a beta of 1.81. The firm has a 50-day moving average of $22.26 and a 200 day moving average of $17.97. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The company had revenue of $316.87 million during the quarter, compared to analysts’ expectations of $311.48 million. During the same period last year, the company posted $0.21 EPS. Extreme Networks’s 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, sell-side analysts expect that Extreme Networks will post 0.53 EPS for the current fiscal year.

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.