Extreme Networks, Inc. (NASDAQ:EXTR) Stock Has Consensus Price Target of $32.25 According to Brokerages

Extreme Networks, Inc. (NASDAQ:EXTR) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $32.25.

EXTR has been the subject of a number of research reports. B. Riley Financial upped their price target on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Bank of America raised their price objective on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Craig Hallum restated a “buy” rating and set a $31.00 price objective on shares of Extreme Networks in a research note on Thursday, August 6th. Lake Street Capital upped their target price on Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th.

Insider Buying and Selling

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 value of $1,489,500.00. Following the completion of the sale, the chief executive officer 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 $4,388,706.90. This represents 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. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bienville Capital Management LLC acquired a new stake in shares of Extreme Networks during the second quarter valued at about $263,000. WINTON GROUP Ltd lifted its stake in shares of Extreme Networks by 326.4% in the second quarter. WINTON GROUP Ltd now owns 43,464 shares of the technology company’s stock worth $1,407,000 after acquiring an additional 33,270 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Extreme Networks in the second quarter valued at about $25,000. Nykredit A S acquired a new stake in Extreme Networks during the 2nd quarter valued at approximately $48,000. Finally, Parkside Financial Bank & Trust grew its stake in Extreme Networks by 2,426.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,385 shares of the technology company’s stock valued at $110,000 after purchasing an additional 3,251 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Down 1.8%

NASDAQ EXTR opened at $21.64 on Friday. Extreme Networks has a one year low of $13.48 and a one year high of $33.73. The company’s 50 day moving average price is $24.66 and its 200 day moving average price is $23.83. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.81 and a current ratio of 0.93. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 69.81, a PEG ratio of 1.46 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The company had revenue of $338.55 million during the quarter, compared to the consensus estimate of $332.49 million. During the same period in the previous year, the firm earned $0.25 earnings per share. Extreme Networks’s revenue for the quarter was up 10.3% on a year-over-year basis. 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, sell-side analysts predict that Extreme Networks will post 0.75 EPS for the current year.

Extreme Networks Company Profile

Extreme Networks, Inc (NASDAQ: EXTR) provides cloud-driven networking solutions for enterprises and organizations. Its portfolio includes wired and wireless network infrastructure, Ethernet switches, wireless access points, routers, network management software, analytics, and security tools designed to help customers build, monitor, and operate modern networks.

The company’s cloud networking offerings include ExtremeCloud IQ, a platform for managing and analyzing network environments across distributed locations.