Extreme Networks (NASDAQ:EXTR) Hits New 12-Month High – Should You Buy?

Extreme Networks, Inc. (NASDAQ:EXTR)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.39 and last traded at $32.2030, with a volume of 698465 shares traded. The stock had previously closed at $31.74.

Analyst Upgrades and Downgrades

EXTR has been the subject of a number of analyst reports. Bank of America raised their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Needham & Company LLC boosted their price target on Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 24th. B. Riley Financial reaffirmed a “buy” rating on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Lake Street Capital lifted their price objective on Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Six research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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 $4.23 billion, a PE ratio of 269.54, a PEG ratio of 3.00 and a beta of 1.80. The firm’s fifty day simple moving average is $25.53 and its 200-day simple moving average is $19.04.

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

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $2,920,000.00. Following the completion of the sale, the chief executive officer owned 1,621,902 shares of the company’s stock, valued at approximately $47,359,538.40. This trade represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 35,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $30.43, for a total value of $1,065,050.00. Following the completion of the transaction, the chief financial officer owned 151,296 shares of the company’s stock, valued at $4,603,937.28. This represents a 18.79% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 642,182 shares of company stock valued at $16,188,978. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Extreme Networks

A number of hedge funds have recently bought and sold shares of EXTR. Royal Bank of Canada grew its stake in shares of 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 acquiring an additional 12,667 shares during the period. AQR Capital Management LLC boosted its holdings in Extreme Networks by 6.6% in the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock worth $455,000 after purchasing an additional 2,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 raised its stake in Extreme Networks by 163.0% during the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock valued at $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 raised its stake in Extreme Networks by 7.5% during the 1st 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 buying an additional 22,209 shares during the last quarter. Hedge funds and other 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.