Extreme Networks (NASDAQ:EXTR) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Extreme Networks (NASDAQ:EXTR) from a strong-buy rating to a buy rating in a research report report published on Monday.

A number of other analysts have also weighed in on EXTR. Oppenheimer raised shares of Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Thursday, October 30th. Bank of America started coverage on Extreme Networks in a research report on Wednesday, November 19th. They issued a “buy” rating and a $24.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $25.00 price target on shares of Extreme Networks in a research report on Thursday, January 29th. Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Finally, B. Riley reaffirmed a “buy” rating on shares of Extreme Networks in a research note on Thursday, October 30th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $15.00 on Monday. The firm’s 50 day moving average is $16.35 and its two-hundred day moving average is $18.60. The firm has a market capitalization of $2.01 billion, a P/E ratio of 214.32, a PEG ratio of 1.60 and a beta of 1.68. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 1.61. Extreme Networks has a 52 week low of $10.10 and a 52 week high of $22.89.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, January 28th. 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 return on equity of 75.56% and a net margin of 0.75%.The business had revenue of $317.93 million during the quarter, compared to the consensus estimate of $312.33 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. Extreme Networks has set its Q3 2026 guidance at 0.230-0.250 EPS and its FY 2026 guidance at 0.980-1.020 EPS. Analysts anticipate that Extreme Networks will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 50,000 shares of Extreme Networks stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $14.91, for a total value of $745,500.00. Following the transaction, the chief executive officer directly owned 1,871,418 shares in the company, valued at $27,902,842.38. The trade was a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 150,000 shares of company stock worth $2,445,500. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Extreme Networks

Several large investors have recently added to or reduced their stakes in EXTR. Salomon & Ludwin LLC purchased a new position in Extreme Networks in the third quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extreme Networks during the 3rd quarter valued at about $31,000. CWM LLC grew its stake in shares of Extreme Networks by 44.8% in the 3rd quarter. CWM LLC now owns 2,095 shares of the technology company’s stock valued at $43,000 after buying an additional 648 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Extreme Networks by 85.4% in the third quarter. Farther Finance Advisors LLC now owns 2,201 shares of the technology company’s stock worth $45,000 after buying an additional 1,014 shares during the last quarter. Finally, Quarry LP increased its holdings in Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after buying an additional 1,118 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

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.