Extreme Networks (NASDAQ:EXTR) Updates Q4 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.11-0.15 for the period, compared to the consensus earnings per share estimate of $0.15. The company issued revenue guidance of $250-260 million, compared to the consensus revenue estimate of $271.08 million. Extreme Networks also updated its FY24 guidance to $0.51-0.55 EPS.

Extreme Networks Stock Down 3.0 %

EXTR stock opened at $11.20 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. Extreme Networks has a 1 year low of $10.57 and a 1 year high of $32.73. The company has a fifty day simple moving average of $11.57 and a 200 day simple moving average of $14.93. The firm has a market cap of $1.44 billion, a PE ratio of 18.67, a PEG ratio of 4.12 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. The business had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. Sell-side analysts anticipate that Extreme Networks will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on EXTR. Rosenblatt Securities lowered shares of Extreme Networks from a buy rating to a neutral rating and cut their target price for the stock from $19.00 to $15.00 in a research report on Thursday, February 1st. B. Riley raised shares of Extreme Networks from a neutral rating to a buy rating and set a $14.00 target price for the company in a research report on Monday, April 15th. Needham & Company LLC cut their target price on shares of Extreme Networks from $23.00 to $16.50 and set a buy rating for the company in a research report on Thursday, February 1st. StockNews.com lowered shares of Extreme Networks from a buy rating to a hold rating in a research report on Thursday, February 1st. Finally, TheStreet lowered shares of Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $22.36.

Insider Activity

In related news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $13.24, for a total value of $376,585.32. Following the sale, the chief executive officer now owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.32% of the stock is owned by company insiders.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.