Needham & Company LLC Cuts Extreme Networks (NASDAQ:EXTR) Price Target to $21.00

Extreme Networks (NASDAQ:EXTR) had its price target trimmed by Needham & Company LLC from $24.00 to $21.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research firms also recently commented on EXTR. Rosenblatt Securities reiterated a “buy” rating and set a $25.00 price objective on shares of Extreme Networks in a research note on Thursday. Bank of America assumed coverage on Extreme Networks in a research note on Wednesday, November 19th. They issued a “buy” rating and a $24.00 target price for the company. Oppenheimer upgraded Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research note on Thursday, October 30th. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 25th. Finally, B. Riley reaffirmed a “buy” rating on shares of Extreme Networks in a report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Extreme Networks has an average rating of “Moderate Buy” and an average price target of $22.67.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $14.58 on Thursday. Extreme Networks has a fifty-two week low of $10.10 and a fifty-two week high of $22.89. The company has a market cap of $1.95 billion, a PE ratio of 208.32, a P/E/G ratio of 1.59 and a beta of 1.64. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.75 and a current ratio of 0.95. The business has a 50-day simple moving average of $16.50 and a two-hundred day simple moving average of $18.65.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 28th. The technology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $317.93 million during the quarter, compared to analyst estimates of $312.33 million. Extreme Networks had a net margin of 0.75% and a return on equity of 75.56%. Extreme Networks’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. 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. As a group, equities analysts expect that Extreme Networks will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $16.54, for a total transaction of $827,000.00. Following the sale, the chief executive officer owned 1,871,418 shares of the company’s stock, valued at $30,953,253.72. This trade represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Extreme Networks

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Extreme Networks by 20.8% in the first quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock valued at $974,000 after buying an additional 12,667 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Extreme Networks by 6.6% in the 1st quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock valued at $455,000 after purchasing an additional 2,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Extreme Networks by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock worth $1,015,000 after purchasing an additional 3,349 shares during the period. Millennium Management LLC boosted its position in Extreme Networks by 163.0% during the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after purchasing an additional 781,103 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Extreme Networks by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company’s stock valued at $4,226,000 after purchasing an additional 22,209 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks News Summary

Here are the key news stories impacting Extreme Networks this week:

• Positive Sentiment: Q2 FY2026 results beat expectations — EXTR topped revenue and EPS estimates and reported its seventh consecutive quarter of growth, supporting the market’s positive reaction to the quarter. Extreme Networks (EXTR) Reports Fiscal Q2 2026 Results, Here’s What You Need to Know
• Positive Sentiment: Shares gapped up after the earnings beat — short?term price action shows investor enthusiasm for the stronger-than-expected quarter. Extreme Networks (NASDAQ:EXTR) Shares Gap Up After Better-Than-Expected Earnings
• Positive Sentiment: Company projects ~11% revenue growth for fiscal 2026 and highlights progress on an AI-driven networking platform and market-share gains — revenue guide and AI strategy bolster medium?term growth expectations. Extreme Networks projects 11% revenue growth for fiscal 2026 while advancing AI-driven platform and market share gains
• Positive Sentiment: Analyst support: Rosenblatt reaffirmed a “buy” rating with a $25 price target, signaling upside from current levels and adding to bullish sentiment. Benzinga coverage of analyst action
• Neutral Sentiment: Investor events scheduled in Feb–Mar 2026 — management will be presenting to investors, which could provide more color on execution and the AI roadmap but is informational rather than immediately value?moving. Extreme Networks Announces Investor Conferences for February and March 2026
• Negative Sentiment: Needham trimmed its price target from $24 to $21 (but kept a “buy” rating) — the cut dampens some upside expectations and suggests less bullishness on valuation despite positive operational news. Benzinga coverage of analyst action

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.