Extreme Networks (NASDAQ:EXTR) Updates 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

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. Rosenblatt Securities raised Extreme Networks from a neutral rating to a buy rating and raised their target price for the company from $15.00 to $17.00 in a report on Thursday. TheStreet downgraded Extreme Networks from a b- rating to a c+ rating in a research report on Tuesday, February 20th. UBS Group cut Extreme Networks from a buy rating to a neutral rating and reduced their price objective for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. Finally, B. Riley boosted their target price on shares of Extreme Networks from $14.00 to $15.00 and gave the stock a buy rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $20.50.

Extreme Networks Trading Down 1.9 %

Shares of EXTR traded down $0.22 during trading hours on Friday, hitting $11.20. 4,770,165 shares of the stock traded hands, compared to its average volume of 2,162,929. The firm has a market capitalization of $1.44 billion, a PE ratio of -160.00, a price-to-earnings-growth ratio of 4.07 and a beta of 1.88. 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 has a 1-year low of $10.57 and a 1-year high of $32.73. The business has a fifty day moving average of $11.52 and a 200-day moving average of $14.80.

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

Extreme Networks Company Profile

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.