Extreme Networks (NASDAQ:EXTR) Given New $33.00 Price Target at Bank of America

Extreme Networks (NASDAQ:EXTR) had its price target raised by analysts at Bank of America from $28.00 to $33.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective would suggest a potential upside of 10.01% from the stock’s current price.

A number of other equities analysts have also commented on EXTR. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Lake Street Capital reiterated a “buy” rating and set a $25.00 target price on shares of Extreme Networks in a research report on Thursday, April 30th. UBS Group set a $28.00 target price on shares of Extreme Networks in a research report on Thursday, April 30th. Needham & Company LLC boosted their price target on shares of Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Extreme Networks Trading Up 7.1%

Shares of NASDAQ EXTR traded up $1.98 during trading on Monday, hitting $30.00. 781,226 shares of the company traded hands, compared to its average volume of 2,068,790. The company has a 50-day moving average price of $21.11 and a 200-day moving average price of $17.62. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. Extreme Networks has a 1 year low of $13.48 and a 1 year high of $30.16. The firm has a market capitalization of $3.92 billion, a P/E ratio of 250.04, a P/E/G ratio of 2.65 and a beta of 1.80.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $316.87 million during 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 firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, equities analysts predict that Extreme Networks will post 0.53 EPS for the current year.

Insider Buying and Selling at Extreme Networks

In other news, insider Katayoun Motiey sold 7,500 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $28.00, for a total transaction of $210,000.00. Following the completion of the sale, the insider directly owned 165,834 shares in the company, valued at $4,643,352. This represents a 4.33% decrease in their ownership of the stock. The transaction 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, Director Kathleen M. Holmgren sold 19,521 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $24.78, for a total transaction of $483,730.38. Following the sale, the director owned 219,308 shares of the company’s stock, valued at approximately $5,434,452.24. This trade represents a 8.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 569,682 shares of company stock worth $13,968,028 over the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Several large investors have recently modified their holdings of EXTR. Royal Bank of Canada grew its position in Extreme Networks by 20.8% during the first quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock valued at $974,000 after buying an additional 12,667 shares during the period. AQR Capital Management LLC boosted its position in shares of Extreme Networks by 6.6% in the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock valued at $455,000 after acquiring an additional 2,122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Extreme Networks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock valued at $1,015,000 after acquiring an additional 3,349 shares during the period. Millennium Management LLC lifted its position in Extreme Networks by 163.0% during the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock valued at $16,675,000 after purchasing an additional 781,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Extreme Networks by 7.5% during the first 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 purchasing an additional 22,209 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.