Extreme Networks (NASDAQ:EXTR) Hits New 52-Week High on Analyst Upgrade

Extreme Networks, Inc. (NASDAQ:EXTR) hit a new 52-week high on Monday after Bank of America raised their price target on the stock from $28.00 to $33.00. Bank of America currently has a buy rating on the stock. Extreme Networks traded as high as $29.99 and last traded at $30.0260, with a volume of 312093 shares traded. The stock had previously closed at $28.02.

Several other equities research analysts also recently weighed in on EXTR. Needham & Company LLC upped their target price on Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. UBS Group set a $28.00 target price on Extreme Networks in a research report on Thursday, April 30th. B. Riley Financial reissued a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. Weiss Ratings downgraded Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 24th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Insider Buying and Selling

In related news, Director Kathleen M. Holmgren sold 19,521 shares of the company’s 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 completion of the transaction, the director directly owned 219,308 shares in the company, valued at $5,434,452.24. This represents a 8.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward H. Kennedy sold 50,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $22.86, for a total value of $1,143,000.00. Following the transaction, the director owned 576,045 shares of the company’s stock, valued at approximately $13,168,388.70. The trade was a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 569,682 shares of company stock valued at $13,968,028 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Extreme Networks in the third quarter worth $31,000. Rockefeller Capital Management L.P. grew its stake in shares of Extreme Networks by 313.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,484 shares in the last quarter. CWM LLC grew its stake in shares of Extreme Networks by 51.7% in the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after purchasing an additional 1,084 shares in the last quarter. Quarry LP grew its stake in shares of Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,118 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Extreme Networks by 136.8% in the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,861 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Performance

The company has a market cap of $3.93 billion, a P/E ratio of 250.58, a PEG ratio of 2.65 and a beta of 1.80. 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 (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The company had revenue of $316.87 million during the quarter, compared to analysts’ expectations of $311.48 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Equities analysts expect that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Extreme Networks Company Profile

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.