Brokerages Set Extreme Networks, Inc. (NASDAQ:EXTR) Target Price at $32.25

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have earned a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $32.25.

A number of analysts have commented on EXTR shares. Lake Street Capital lifted their price target on Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Needham & Company LLC cut their price objective on Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Bank of America raised their price objective 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, August 6th. Finally, Craig Hallum reiterated a “buy” rating and issued a $31.00 target price on shares of Extreme Networks in a research report on Thursday, August 6th.

Extreme Networks Trading Down 2.8%

Shares of Extreme Networks stock opened at $22.58 on Wednesday. The firm’s 50 day simple moving average is $28.28 and its two-hundred day simple moving average is $22.75. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 72.84, a PEG ratio of 1.53 and a beta of 1.79. Extreme Networks has a 12-month low of $13.48 and a 12-month high of $33.73. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63.

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

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the completion of the sale, the chief executive officer directly owned 1,621,902 shares in the company, valued at approximately $47,359,538.40. The trade was a 5.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 35,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the completion of the sale, the chief financial officer directly owned 151,296 shares in the company, valued at $4,603,937.28. This trade represents a 18.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 301,825 shares of company stock valued at $8,709,148. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Extreme Networks

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new position in shares of Extreme Networks during the 2nd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Extreme Networks in the third quarter worth about $31,000. Rockefeller Capital Management L.P. boosted 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 buying an additional 1,484 shares during the last quarter. Nykredit A S acquired a new stake in Extreme Networks during the second quarter worth about $48,000. Finally, CWM LLC grew its holdings in Extreme Networks by 51.7% during the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after acquiring an additional 1,084 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

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.