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 earnings per share (EPS) guidance of $0.16-0.20 for the period, compared to the consensus 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

EXTR has been the subject of several research analyst reports. Craig Hallum increased their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Rosenblatt Securities increased their price target on shares of Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a report on Thursday. Finally, B. Riley lifted their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Stock Up 1.1 %

Extreme Networks stock traded up $0.16 during mid-day trading on Friday, hitting $15.09. The company had a trading volume of 1,441,871 shares, compared to its average volume of 1,870,505. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -15.56, a PEG ratio of 3.67 and a beta of 1.76. Extreme Networks has a 1 year low of $10.49 and a 1 year high of $18.77. The business has a fifty day moving average of $14.88 and a 200 day moving average of $13.29. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33.

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

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the sale, the director now directly owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total value of $536,589.50. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,754,637.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,175 shares of company stock worth $1,763,279 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

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.