Extreme Networks (NASDAQ:EXTR) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other research firms have also commented on EXTR. Needham & Company LLC cut their price target on Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday. B. Riley Financial increased their price objective on Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America raised their target price on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Oppenheimer reaffirmed an “outperform” rating on shares of Extreme Networks in a report on Thursday. Finally, Weiss Ratings upgraded shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Extreme Networks presently has an average rating of “Moderate Buy” and an average price target of $32.25.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $23.97 on Friday. The firm has a market capitalization of $3.13 billion, a PE ratio of 77.33, a P/E/G ratio of 1.46 and a beta of 1.79. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.63. The company has a 50-day moving average price of $30.27 and a two-hundred day moving average price of $21.88. Extreme Networks has a twelve month low of $13.48 and a twelve month high of $33.73.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $338.55 million for the quarter, compared to analyst estimates of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. 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. Equities analysts forecast that Extreme Networks will post 0.81 EPS for the current year.

Insider Activity at Extreme Networks

In related news, Director Kathleen M. Holmgren sold 19,521 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $24.78, for a total value of $483,730.38. Following the completion of the transaction, the director directly owned 219,308 shares in the company, valued at approximately $5,434,452.24. The trade was 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 accessible through the SEC website. Also, insider Katayoun Motiey sold 30,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total value of $930,900.00. Following the completion of the transaction, the insider directly owned 120,834 shares in the company, valued at approximately $3,749,479.02. This represents a 19.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 422,182 shares of company stock worth $11,905,205 over the last quarter. 3.60% 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 company. First Bank & Trust increased its position in shares of Extreme Networks by 2.4% during the 2nd quarter. First Bank & Trust now owns 13,191 shares of the technology company’s stock valued at $427,000 after purchasing an additional 306 shares during the last quarter. GAMMA Investing LLC lifted its position in Extreme Networks by 13.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,001 shares of the technology company’s stock worth $130,000 after buying an additional 465 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Extreme Networks by 3.1% in the third quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company’s stock worth $470,000 after buying an additional 683 shares in the last quarter. ProShare Advisors LLC grew its position in Extreme Networks by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company’s stock valued at $426,000 after acquiring an additional 735 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Extreme Networks by 7.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock valued at $166,000 after acquiring an additional 735 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

More Extreme Networks News

Here are the key news stories impacting Extreme Networks this week:

• Positive Sentiment: Strong quarterly results: Extreme Networks reported fiscal Q4 adjusted EPS of $0.32, ahead of the $0.29 consensus estimate, while revenue of $338.55 million exceeded expectations of $332.49 million and increased 10.3% year over year. The company also issued fiscal 2027 EPS guidance of $1.28-$1.33. Extreme Networks Fiscal Q4 Earnings Snapshot
• Positive Sentiment: B. Riley raised its target: B. Riley Financial increased its price target from $28 to $34 and maintained a “buy” rating, signaling substantial potential upside based on its outlook for EXTR. Extreme Networks Price Target Raised at B. Riley Financial
• Positive Sentiment: Rosenblatt remains bullish: Rosenblatt Securities trimmed its target modestly from $39 to $38 but retained a “buy” rating, indicating continued confidence despite the adjustment.
• Neutral Sentiment: Upcoming investor conferences: Extreme Networks will participate in investor conferences during August and September, giving management opportunities to discuss demand, execution, and its financial outlook with investors. Extreme Networks Announces Investor Conferences
• Negative Sentiment: Insider selling pressured the shares: Reports of insider sales prompted a gap lower, raising concerns about management or other insiders reducing exposure after the stock’s previous rally. Extreme Networks Shares Gap Down on Insider Selling
• Negative Sentiment: Valuation concerns remain: One analysis argues that Extreme Networks is still overvalued even after its pullback. With a high earnings multiple and only modest profitability, investors may be taking profits despite the earnings beat. Extreme Networks Q4 Fine Print But Still Overvalued After the Pullback
• Negative Sentiment: Mixed target revisions: Needham lowered its price target to $35, while the differing analyst revisions suggest expectations remain positive but are not uniformly strengthening. Extreme Networks Price Target Lowered at Needham

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.