Extreme Networks (NASDAQ:EXTR) Downgraded by Wall Street Zen to “Buy”

Extreme Networks (NASDAQ:EXTR) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also weighed in on EXTR. Bank of America lifted their price objective on shares of Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a report on Monday, June 8th. Needham & Company LLC raised their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Lake Street Capital lifted their price target on shares of Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Rosenblatt Securities boosted their price target on Extreme Networks from $29.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, UBS Group set a $28.00 price objective on Extreme Networks in a research note on Thursday, April 30th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.83.

Extreme Networks Price Performance

EXTR opened at $30.34 on Friday. The business has a fifty day moving average of $28.99 and a 200 day moving average of $20.54. The stock has a market cap of $3.97 billion, a P/E ratio of 252.83, a PEG ratio of 1.83 and a beta of 1.77. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. Extreme Networks has a 52-week low of $13.48 and a 52-week high of $33.73.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $316.87 million for the quarter, compared to analyst estimates of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, sell-side analysts anticipate that Extreme Networks will post 0.53 EPS for the current year.

Insider Activity at Extreme Networks

In other news, Director Edward H. Kennedy sold 50,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director owned 576,045 shares of the company’s stock, valued at approximately $13,168,388.70. This represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katayoun Motiey sold 30,000 shares of Extreme Networks stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $31.03, for a total transaction of $930,900.00. Following the transaction, the insider directly owned 120,834 shares in the company, valued at approximately $3,749,479.02. The trade was a 19.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 592,182 shares of company stock worth $15,423,978 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Extreme Networks

Several hedge funds and other institutional investors have recently bought and sold shares of EXTR. Caitong International Asset Management Co. Ltd bought a new position in shares of Extreme Networks in the 3rd quarter worth $31,000. Rockefeller Capital Management L.P. lifted its stake in shares of Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,484 shares during the last quarter. CWM LLC boosted its position in Extreme Networks by 51.7% during the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock valued at $53,000 after purchasing an additional 1,084 shares in the last quarter. Quarry LP grew its stake in Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Extreme Networks by 136.8% in the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,861 shares during the last quarter. 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.