Extreme Networks (NASDAQ:EXTR) Updates Q2 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.16-0.20 for the period, compared to the consensus EPS estimate of $0.18. The company issued revenue guidance of $273-283 million, compared to the consensus revenue estimate of $277.91 million. Extreme Networks also updated its FY 2025 guidance to EPS.

Extreme Networks Price Performance

EXTR opened at $15.09 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks has a 1 year low of $10.49 and a 1 year high of $18.77. The stock has a fifty day moving average price of $14.88 and a 200 day moving average price of $13.32. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -15.56, a PEG ratio of 3.67 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). The firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The company’s quarterly revenue was down 29.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. Analysts forecast that Extreme Networks will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on EXTR shares. Rosenblatt Securities upped their price objective on shares of Extreme Networks from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. B. Riley increased their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of Extreme Networks in a research report on Thursday, August 8th. Finally, Craig Hallum lifted their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Extreme Networks currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Insider Buying and Selling at Extreme Networks

In other news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the sale, the director now owns 228,733 shares in the company, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the transaction, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,175 shares of company stock valued at $1,763,279 in the last 90 days. 3.70% of the stock is currently owned by insiders.

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.