Extreme Networks (NASDAQ:EXTR) Hits New 1-Year High – Here’s What Happened

Extreme Networks, Inc. (NASDAQ:EXTR)’s stock price reached a new 52-week high on Monday . The company traded as high as $32.29 and last traded at $31.7690, with a volume of 204879 shares trading hands. The stock had previously closed at $31.38.

Analyst Upgrades and Downgrades

EXTR has been the topic of a number of analyst reports. Lake Street Capital lifted their price target on 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 upped their price objective on shares of Extreme Networks from $29.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 24th. Needham & Company LLC boosted their price target on shares of Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.83.

Extreme Networks Price Performance

The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 262.08, a P/E/G ratio of 3.01 and a beta of 1.81. The stock’s 50 day moving average price is $24.71 and its two-hundred day moving average price is $18.76.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The firm had revenue of $316.87 million during the quarter, compared to analysts’ expectations of $311.48 million. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Analysts anticipate that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Insider Transactions at Extreme Networks

In related news, Director Kathleen M. Holmgren sold 19,521 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $24.78, for a total transaction of $483,730.38. Following the transaction, the director owned 219,308 shares of the company’s stock, valued at approximately $5,434,452.24. This trade represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the completion of the sale, the chief financial officer owned 151,296 shares of the company’s stock, valued at $4,603,937.28. This trade represents a 18.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 642,182 shares of company stock valued at $16,188,978 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted 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 worth $974,000 after purchasing an additional 12,667 shares in the last quarter. AQR Capital Management LLC raised its holdings in Extreme Networks by 6.6% during the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock valued at $455,000 after buying an additional 2,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Extreme Networks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock valued at $1,015,000 after buying an additional 3,349 shares in the last quarter. Millennium Management LLC lifted its position in shares of Extreme Networks by 163.0% in the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after buying an additional 781,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 worth $4,226,000 after buying an additional 22,209 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

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.