Extreme Networks (NASDAQ:EXTR) Shares Down 5.7% – Here’s What Happened

Extreme Networks, Inc. (NASDAQ:EXTR)’s share price fell 5.7% during trading on Wednesday . The company traded as low as $17.48 and last traded at $17.6020. 2,664,528 shares were traded during trading, an increase of 52% from the average session volume of 1,750,654 shares. The stock had previously closed at $18.67.

Analyst Ratings Changes

A number of brokerages recently commented on EXTR. UBS Group reiterated a “neutral” rating and set a $17.00 price target on shares of Extreme Networks in a report on Thursday, January 29th. Weiss Ratings lowered Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $25.00 target price on shares of Extreme Networks in a research note on Thursday, January 29th. Finally, Needham & Company LLC lowered their target price on Extreme Networks from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Six 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.67.

Extreme Networks Stock Performance

The company has a market capitalization of $2.36 billion, a PE ratio of 251.55, a PEG ratio of 1.85 and a beta of 1.62. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 1.61. The company has a 50-day moving average price of $15.34 and a two-hundred day moving average price of $16.62.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, January 28th. The technology company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. Extreme Networks had a return on equity of 75.56% and a net margin of 0.75%.The company had revenue of $317.93 million during the quarter, compared to analysts’ expectations of $312.33 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. 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. Analysts predict that Extreme Networks, Inc. will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 50,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $15.30, for a total value of $765,000.00. Following the completion of the sale, the chief executive officer owned 1,897,270 shares of the company’s stock, valued at approximately $29,028,231. The trade was a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EXTR. Salomon & Ludwin LLC bought a new position in Extreme Networks during the 3rd quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in Extreme Networks during the 3rd quarter valued at approximately $31,000. Rockefeller Capital Management L.P. raised its position in Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,484 shares during the last quarter. CWM LLC raised its position in Extreme Networks by 44.8% during the 3rd quarter. CWM LLC now owns 2,095 shares of the technology company’s stock valued at $43,000 after purchasing an additional 648 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Extreme Networks by 85.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,201 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,014 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Company Profile

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.