Extreme Networks (NASDAQ:EXTR) Issues Q2 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) updated its second quarter earnings guidance on Wednesday. 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.

Analyst Upgrades and Downgrades

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

Extreme Networks Trading Up 1.1 %

NASDAQ EXTR opened at $15.09 on Friday. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $18.77. The stock has a 50-day simple moving average of $14.88 and a 200 day simple moving average of $13.32. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The company has a market capitalization of $1.99 billion, a PE ratio of -15.56, a P/E/G ratio of 3.67 and a beta of 1.76.

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

Insiders Place Their Bets

In other news, Director Raj Khanna sold 10,000 shares of the business’s 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 transaction, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,175 shares of company stock worth $1,763,279. Company 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.