Extreme Networks (NASDAQ:EXTR) Sets New 52-Week High – Time to Buy?

Extreme Networks, Inc. (NASDAQ:EXTR) reached a new 52-week high during trading on Monday . The company traded as high as $32.29 and last traded at $31.7690, with a volume of 204879 shares traded. The stock had previously closed at $31.38.

Wall Street Analysts Forecast Growth

EXTR has been the subject of a number of research reports. Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. UBS Group set a $28.00 price objective on Extreme Networks in a research note on Thursday, April 30th. Bank of America lifted their target price on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Needham & Company LLC upped their target price on Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. Six research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.83.

Extreme Networks Stock Performance

The stock has a market capitalization of $4.16 billion, a PE ratio of 265.17, a P/E/G ratio of 2.96 and a beta of 1.80. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91. The firm has a 50 day moving average of $24.14 and a 200-day moving average of $18.56.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $316.87 million for the quarter, compared to analysts’ expectations of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Research analysts forecast that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Insider Activity at Extreme Networks

In other Extreme Networks news, CFO Kevin R. Rhodes sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $30.43, for a total value of $1,065,050.00. Following the transaction, the chief financial officer owned 151,296 shares in the company, valued at approximately $4,603,937.28. This represents a 18.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 100,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the completion of the sale, the chief executive officer owned 1,721,902 shares of the company’s stock, valued at approximately $44,941,642.20. The trade was a 5.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 642,182 shares of company stock valued at $16,188,978. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Extreme Networks

A number of institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. grew its stake in Extreme Networks by 301.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock valued at $49,479,000 after purchasing an additional 2,232,373 shares in the last quarter. Jain Global LLC purchased a new stake in shares of Extreme Networks during the 4th quarter worth about $17,361,000. SEB Asset Management AB acquired a new stake in shares of Extreme Networks during the 1st quarter valued at about $12,192,000. Millennium Management LLC lifted its holdings in shares of Extreme Networks by 163.0% during the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock valued at $16,675,000 after buying an additional 781,103 shares during the last quarter. Finally, Glenmede Trust Co. NA bought a new stake in shares of Extreme Networks in the 1st quarter valued at approximately $10,129,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

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.