Extreme Networks (NASDAQ:EXTR) Updates Q2 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.16-0.20 for the period, compared to the consensus EPS estimate of $0.18. The company issued revenue guidance of $273-283 million, compared to the consensus revenue estimate of $277.91 million. Extreme Networks also updated its FY 2025 guidance to EPS.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. B. Riley boosted their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday. Craig Hallum boosted their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities upped their target price on Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Stock Up 1.1 %

Shares of EXTR traded up $0.16 during mid-day trading on Friday, hitting $15.09. 1,441,871 shares of the company’s stock were exchanged, compared to its average volume of 1,870,505. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -15.56, a P/E/G ratio of 3.67 and a beta of 1.76. The stock’s 50-day moving average is $14.88 and its 200-day moving average is $13.29. Extreme Networks has a fifty-two week low of $10.49 and a fifty-two week high of $18.77.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The company had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The company’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. On average, sell-side analysts anticipate that Extreme Networks will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Extreme Networks

In other news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now directly owns 228,733 shares in the company, valued at $3,780,956.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,175 shares of company stock valued at $1,763,279 over the last quarter. 3.70% of the stock is owned by insiders.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.