$241.13 Million in Sales Expected for Extreme Networks, Inc (EXTR) This Quarter
Wall Street analysts expect that Extreme Networks, Inc (NASDAQ:EXTR) will announce $241.13 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Extreme Networks’ earnings, with estimates ranging from $240.00 million to $242.00 million. Extreme Networks posted sales of $148.11 million during the same quarter last year, which suggests a positive year-over-year growth rate of 62.8%. The firm is expected to report its next quarterly earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Extreme Networks will report full year sales of $241.13 million for the current fiscal year, with estimates ranging from $969.70 million to $1.02 billion. For the next fiscal year, analysts expect that the business will report sales of $1.11 billion per share, with estimates ranging from $1.08 billion to $1.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Extreme Networks.
Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. The company had revenue of $211.72 million for the quarter, compared to analyst estimates of $203.86 million. Extreme Networks had a net margin of 0.34% and a return on equity of 46.58%. The business’s revenue for the quarter was up 72.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share.
A number of equities analysts recently issued reports on EXTR shares. ValuEngine raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Needham & Company LLC increased their price objective on Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Zacks Investment Research downgraded Extreme Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Craig Hallum reissued a “buy” rating and issued a $17.00 price objective (up from $12.50) on shares of Extreme Networks in a report on Wednesday, November 8th. Finally, BidaskClub raised Extreme Networks from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $13.25.
In other news, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total value of $138,100.00. Following the completion of the sale, the director now directly owns 99,523 shares of the company’s stock, valued at $1,374,412.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Carinalli sold 20,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $12.91, for a total value of $258,200.00. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Extreme Networks by 11.5% during the second quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock worth $74,138,000 after purchasing an additional 830,103 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Extreme Networks by 30.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,649,429 shares of the technology company’s stock worth $19,897,000 after purchasing an additional 618,989 shares during the last quarter. State Street Corp raised its stake in shares of Extreme Networks by 4.7% during the second quarter. State Street Corp now owns 2,307,153 shares of the technology company’s stock worth $21,273,000 after purchasing an additional 102,591 shares during the last quarter. FMR LLC raised its stake in shares of Extreme Networks by 57.9% during the second quarter. FMR LLC now owns 2,130,799 shares of the technology company’s stock worth $19,647,000 after purchasing an additional 781,130 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Extreme Networks by 474.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,593,826 shares of the technology company’s stock worth $14,695,000 after purchasing an additional 1,316,604 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.
Extreme Networks (EXTR) opened at $12.92 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.31 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1,464.25, a P/E ratio of 30.02, a P/E/G ratio of 1.26 and a beta of 1.14. Extreme Networks has a fifty-two week low of $4.36 and a fifty-two week high of $14.34.
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Extreme Networks Company Profile
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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