Extreme Networks (NASDAQ:EXTR) Earns Buy Rating from Rosenblatt Securities

Extreme Networks (NASDAQ:EXTR)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a report released on Thursday, Benzinga reports. They presently have a $38.00 price objective on the technology company’s stock. Rosenblatt Securities‘s target price indicates a potential upside of 68.59% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Oppenheimer reaffirmed an “outperform” rating on shares of Extreme Networks in a report on Thursday, August 6th. Craig Hallum reissued a “buy” rating and issued a $31.00 target price on shares of Extreme Networks in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 16th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC decreased their price target on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Extreme Networks Trading Up 1.4%

Extreme Networks stock opened at $22.54 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.98 billion, a P/E ratio of 72.71, a P/E/G ratio of 1.46 and a beta of 1.76. The business has a 50-day simple moving average of $22.53 and a two-hundred day simple moving average of $24.88. Extreme Networks has a 52-week low of $13.48 and a 52-week high of $33.73.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%. The company had revenue of $338.55 million for the quarter, compared to the consensus estimate of $332.49 million. During the same period in the previous year, the business earned $0.25 earnings per share. Extreme Networks’s quarterly revenue was up 10.3% compared to the same quarter last year. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. Analysts predict that Extreme Networks will post 0.75 EPS for the current year.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $21.77, for a total transaction of $1,088,500.00. Following the completion of the transaction, the chief executive officer owned 1,710,097 shares in the company, valued at $37,228,811.69. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 21,825 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $22.30, for a total value of $486,697.50. Following the transaction, the chief financial officer directly owned 196,803 shares in the company, valued at approximately $4,388,706.90. This represents a 9.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 121,825 shares of company stock worth $3,064,698 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Extreme Networks during the 3rd quarter valued at $1,373,000. Nisa Investment Advisors LLC lifted its holdings in shares of Extreme Networks by 103.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,617 shares of the technology company’s stock worth $185,000 after buying an additional 4,383 shares during the period. First Bank & Trust grew its position in shares of Extreme Networks by 6.3% during the 3rd quarter. First Bank & Trust now owns 14,021 shares of the technology company’s stock worth $301,000 after buying an additional 830 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Extreme Networks by 72.3% during the 3rd quarter. CoreCap Advisors LLC now owns 1,201 shares of the technology company’s stock worth $26,000 after buying an additional 504 shares in the last quarter. Finally, Byrne Asset Management LLC increased its stake in shares of Extreme Networks by 18.1% during the third quarter. Byrne Asset Management LLC now owns 10,676 shares of the technology company’s stock valued at $235,000 after buying an additional 1,636 shares during the period. 91.05% of the stock is owned by institutional investors.

Extreme Networks Company Profile

Extreme Networks, Inc develops networking solutions that help organizations connect, manage and secure users, devices and applications across campus, data center and distributed environments. Its portfolio includes wired and wireless network infrastructure, Ethernet switches, access points, software-defined wide-area networking (SD-WAN), network access control and cloud-based network management.

The company’s ExtremeCloud platform supports centralized monitoring, configuration, analytics and automation for network operations.