Needham & Company LLC Boosts Extreme Networks (NASDAQ:EXTR) Price Target to $38.00

Extreme Networks (NASDAQ:EXTR) had its target price raised by analysts at Needham & Company LLC from $26.00 to $38.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 27.82% from the stock’s current price.

Several other research analysts have also issued reports on the company. B. Riley Financial restated a “buy” rating on shares of Extreme Networks in a research report on Thursday, April 30th. Weiss Ratings upgraded Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. UBS Group set a $28.00 price target on Extreme Networks in a research note on Thursday, April 30th. Bank of America raised their price target on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Lake Street Capital boosted their price objective on Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a report on Monday, June 15th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Extreme Networks Trading Down 1.8%

EXTR stock opened at $29.73 on Wednesday. Extreme Networks has a twelve month low of $13.48 and a twelve month high of $33.73. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 247.75, a price-to-earnings-growth ratio of 1.86 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. The firm’s fifty day simple moving average is $29.52 and its two-hundred day simple moving average is $20.94.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The firm had revenue of $316.87 million during the quarter, compared to analyst estimates of $311.48 million. During the same quarter last year, the business earned $0.21 EPS. The business’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, analysts anticipate that Extreme Networks will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kathleen M. Holmgren sold 19,521 shares of Extreme Networks stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $24.78, for a total transaction of $483,730.38. Following the completion of the sale, the director owned 219,308 shares of the company’s stock, valued at approximately $5,434,452.24. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward H. Kennedy sold 50,000 shares of the business’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 $13,168,388.70. The trade was a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 592,182 shares of company stock worth $15,423,978. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Extreme Networks

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Extreme Networks by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock valued at $318,219,000 after buying an additional 349,199 shares during the period. State Street Corp lifted its stake in Extreme Networks by 3.9% in the fourth quarter. State Street Corp now owns 5,664,493 shares of the technology company’s stock worth $94,314,000 after acquiring an additional 213,094 shares during the period. Paradigm Capital Management Inc. NY grew its holdings in Extreme Networks by 5.3% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 5,234,900 shares of the technology company’s stock worth $78,942,000 after acquiring an additional 262,400 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Extreme Networks by 7.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,247,680 shares of the technology company’s stock worth $48,975,000 after acquiring an additional 230,617 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its position in Extreme Networks by 301.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock valued at $49,479,000 after purchasing an additional 2,232,373 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

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.