Rosenblatt Securities Reaffirms “Buy” Rating for Extreme Networks (NASDAQ:EXTR)

Extreme Networks (NASDAQ:EXTR)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a note issued to investors on Thursday, Benzinga reports. They currently have a $38.00 price target on the technology company’s stock. Rosenblatt Securities‘s price objective would suggest a potential upside of 74.03% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 16th. Craig Hallum reissued a “buy” rating and issued a $31.00 target price on shares of Extreme Networks in a research report on Thursday, August 6th. Needham & Company LLC dropped their target price on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, B. Riley Financial lifted their target price on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Extreme Networks Price Performance

Shares of EXTR traded down $0.71 during mid-day trading on Thursday, hitting $21.84. The company’s stock had a trading volume of 41,565 shares, compared to its average volume of 1,904,684. The firm has a 50-day moving average price of $22.53 and a 200 day moving average price of $24.88. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 70.83, a PEG ratio of 1.46 and a beta of 1.76. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.81. Extreme Networks has a fifty-two week low of $13.48 and a fifty-two week high of $33.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $338.55 million for the quarter, compared to analysts’ expectations of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. 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. On average, research analysts predict that Extreme Networks will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 50,000 shares of Extreme Networks stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $21.77, for a total value of $1,088,500.00. Following the transaction, the chief executive officer owned 1,710,097 shares of the company’s stock, valued at $37,228,811.69. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 21,825 shares of Extreme Networks stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $22.30, for a total transaction of $486,697.50. Following the completion of 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 121,825 shares of company stock valued at $3,064,698 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in shares of Extreme Networks in the second quarter valued at approximately $25,000. Public Employees Retirement System of Ohio bought a new position in Extreme Networks during the second quarter worth $28,000. CoreCap Advisors LLC increased its position in Extreme Networks by 72.3% during the third quarter. CoreCap Advisors LLC now owns 1,201 shares of the technology company’s stock worth $26,000 after acquiring an additional 504 shares during the period. Nykredit A S bought a new position in Extreme Networks during the second quarter worth $48,000. Finally, Rockefeller Capital Management L.P. increased its position in 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 during the period. Institutional investors own 91.05% of the company’s stock.

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.