Extreme Networks (NASDAQ:EXTR) Issues FY 2024 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.510-0.550 for the period, compared to the consensus estimate of 0.560. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Extreme Networks also updated its FY24 guidance to $0.51-0.55 EPS.

Wall Street Analysts Forecast Growth

EXTR has been the subject of several analyst reports. TheStreet cut shares of Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. StockNews.com cut shares of Extreme Networks from a buy rating to a hold rating in a research report on Thursday, February 1st. Needham & Company LLC restated a buy rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Wednesday. UBS Group cut Extreme Networks from a buy rating to a neutral rating and decreased their price objective for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. Finally, Rosenblatt Securities raised Extreme Networks from a neutral rating to a buy rating and increased their target price for the company from $15.00 to $17.00 in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $20.50.

Extreme Networks Stock Down 1.9 %

Shares of EXTR stock traded down $0.22 during trading hours on Friday, hitting $11.20. 4,770,165 shares of the company were exchanged, compared to its average volume of 2,162,929. The company has a market capitalization of $1.44 billion, a PE ratio of -160.00, a PEG ratio of 4.07 and a beta of 1.88. Extreme Networks has a 52 week low of $10.57 and a 52 week high of $32.73. The business has a 50 day moving average of $11.52 and a two-hundred day moving average of $14.80. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 2.78.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The firm had revenue of $296.38 million during the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. Analysts anticipate that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.