Extreme Networks (NASDAQ:EXTR) Sets New 1-Year High – Here’s Why

Extreme Networks, Inc. (NASDAQ:EXTR)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $32.39 and last traded at $32.2030, with a volume of 698465 shares trading hands. The stock had previously closed at $31.74.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EXTR. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 24th. Lake Street Capital increased their price objective on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Rosenblatt Securities raised their price objective on Extreme Networks from $29.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, June 11th. B. Riley Financial reaffirmed a “buy” rating on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Bank of America upped their target price on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average price target of $30.83.

Extreme Networks Stock Up 1.2%

The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The firm’s 50 day moving average price is $26.11 and its two-hundred day moving average price is $19.24. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 269.75, a price-to-earnings-growth ratio of 3.02 and a beta of 1.81.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business 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%. Extreme Networks’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Sell-side analysts anticipate that Extreme Networks, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other news, Director Kathleen M. Holmgren sold 19,521 shares of Extreme Networks stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $24.78, for a total value of $483,730.38. Following the completion of the sale, the director directly owned 219,308 shares in the company, valued at approximately $5,434,452.24. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katayoun Motiey sold 30,000 shares of Extreme Networks stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total value of $930,900.00. Following the completion of the transaction, the insider directly owned 120,834 shares of the company’s stock, valued at $3,749,479.02. This represents a 19.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 592,182 shares of company stock worth $15,423,978 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Extreme Networks

Hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Extreme Networks in the 3rd quarter valued at $31,000. Rockefeller Capital Management L.P. increased its position in shares of Extreme Networks by 313.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,484 shares in the last quarter. CWM LLC increased its holdings in Extreme Networks by 51.7% during the 4th quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after purchasing an additional 1,084 shares in the last quarter. Quarry LP raised its position in Extreme Networks by 74.9% in the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after buying an additional 1,118 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Extreme Networks by 136.8% in the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after acquiring an additional 1,861 shares in 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.