Extreme Networks (NASDAQ:EXTR) Sets New 12-Month High – Here’s Why

Extreme Networks, Inc. (NASDAQ:EXTR) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.22 and last traded at $24.2640, with a volume of 59359 shares. The stock had previously closed at $24.04.

Analyst Ratings Changes

Several brokerages recently issued reports on EXTR. Rosenblatt Securities reissued a “buy” rating and set a $25.00 target price on shares of Extreme Networks in a research note on Thursday, January 29th. B. Riley Financial reissued a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings raised shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 1st. Finally, Needham & Company LLC increased their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

Extreme Networks Stock Performance

The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The company’s fifty day simple moving average is $16.42 and its two-hundred day simple moving average is $16.60. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 200.46, a P/E/G ratio of 2.27 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, analysts forecast that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Insider Activity

In related news, CEO Edward Meyercord sold 21,209 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $23.12, for a total transaction of $490,352.08. Following the completion of the sale, the chief executive officer owned 1,797,270 shares in the company, valued at approximately $41,552,882.40. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Edward H. Kennedy sold 50,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $22.86, for a total transaction of $1,143,000.00. Following the sale, the director owned 576,045 shares of the company’s stock, valued at $13,168,388.70. This trade represents a 7.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 270,000 shares of company stock worth $5,773,273 over the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Trading of Extreme Networks

A number of large investors have recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in Extreme Networks by 44.8% during the third quarter. CWM LLC now owns 2,095 shares of the technology company’s stock worth $43,000 after buying an additional 648 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Extreme Networks by 3.1% during the third quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company’s stock worth $470,000 after buying an additional 683 shares during the last quarter. Arizona State Retirement System increased its holdings in Extreme Networks by 1.8% during the third quarter. Arizona State Retirement System now owns 39,405 shares of the technology company’s stock worth $814,000 after buying an additional 685 shares during the last quarter. ProShare Advisors LLC increased its holdings in Extreme Networks by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company’s stock worth $426,000 after buying an additional 735 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Extreme Networks by 7.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock worth $166,000 after buying an additional 735 shares during the last quarter. Hedge funds and other 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.