Extreme Networks (NASDAQ:EXTR) Stock Keeps Buy Rating at Rosenblatt Securities

Extreme Networks (NASDAQ:EXTR)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a report released on Thursday, Benzinga reports. They presently have a $38.00 target price on the technology company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 68.59% from the company’s current price.

Several other research firms also recently weighed in on EXTR. Oppenheimer reiterated an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. B. Riley Financial upped their price target on Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 16th. Craig Hallum reaffirmed a “buy” rating and set a $31.00 price objective on shares of Extreme Networks in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Extreme Networks Stock Up 1.4%

Shares of EXTR stock opened at $22.54 on Thursday. The company has a 50 day simple moving average of $22.53 and a two-hundred day simple moving average of $24.88. The stock has a market cap of $2.98 billion, a P/E ratio of 72.71, a P/E/G ratio of 1.46 and a beta of 1.76. Extreme Networks has a 12 month low of $13.48 and a 12 month high of $33.73. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63.

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

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 50,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the completion of the sale, the chief executive officer directly owned 1,596,475 shares of the company’s stock, valued at $47,558,990.25. This trade represents a 3.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin 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 sale, the chief financial officer owned 196,803 shares in the company, valued at approximately $4,388,706.90. The trade was 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 a total of 121,825 shares of company stock valued at $3,064,698 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Extreme Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Extreme Networks during the second quarter valued at $674,661,000. Paradigm Capital Management Inc. NY purchased a new stake in Extreme Networks in the 2nd quarter worth $137,291,000. Bank of America Corp DE purchased a new stake in Extreme Networks in the 2nd quarter worth $45,531,000. SEB Asset Management AB purchased a new stake in Extreme Networks in the 1st quarter worth $12,192,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Extreme Networks during the 2nd quarter valued at about $23,896,000. Institutional investors own 91.05% of the company’s stock.

About Extreme Networks

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.