In yesterday’s Wall Street session, Extreme Networks Inc. (NASDAQ:EXTR) shares traded at $26.59, down -2.39% from the previous session.
As of this writing, 7 analysts cover Extreme Networks Inc. (NASDAQ:EXTR). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $35.00 and a low of $17.50, we find $30.00. Given the previous closing price of $27.24, this indicates a potential upside of 10.13 percent. EXTR stock price is now 10.92% away from the 50-day moving average and 36.24% away from the 200-day moving average. The market capitalization of the company currently stands at $3.44B.
There are 1 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $27.79 as their price target over the next twelve months.
With the price target of $35, Oppenheimer recently initiated with Outperform rating for Extreme Networks Inc. (NASDAQ: EXTR).
In other news, MEYERCORD EDWARD, PRESIDENT AND CEO sold 100,000 shares of the company’s stock on Jun 07. The stock was sold for $2,304,910 at an average price of $23.05. Upon completion of the transaction, the PRESIDENT AND CEO now directly owns 610,385 shares in the company, valued at $16.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 02, PRESIDENT AND CEO MEYERCORD EDWARD sold 167,587 shares of the business’s stock. A total of $3,548,860 was realized by selling the stock at an average price of $21.18. This leaves the insider owning 710,385 shares of the company worth $18.89 million. Insiders disposed of 1,136,607 shares of company stock worth roughly $30.22 million over the past 1 year. A total of 1.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in EXTR stock. A new stake in Extreme Networks Inc. shares was purchased by BOSTON PARTNERS during the first quarter worth $48,977,000. REDWOOD INVESTMENTS, LLC invested $13,307,000 in shares of EXTR during the first quarter. In the first quarter, NORGES BANK acquired a new stake in Extreme Networks Inc. valued at approximately $8,269,000. M&G INVESTMENT MANAGEMENT LTD acquired a new stake in EXTR for approximately $8,102,000. CHURCHILL MANAGEMENT CORP purchased a new stake in EXTR valued at around $7,328,000 in the second quarter. In total, there are 401 active investors with 88.80% ownership of the company’s stock.
Monday morning saw Extreme Networks Inc. (NASDAQ: EXTR) opened at $27.37. During the past 12 months, Extreme Networks Inc. has had a low of $12.09 and a high of $28.60. As of last week, the company has a debt-to-equity ratio of 2.27, a current ratio of 1.00, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $3.59B, which is based on a 61.13 price-to-earnings ratio, a 3.06 price-to-earnings-growth ratio, and a beta of 2.01. The fifty day moving average price for EXTR is $24.15 and a two-hundred day moving average price translates $19.58 for the stock.
The latest earnings results from Extreme Networks Inc. (NASDAQ: EXTR) was released for Mar, 2023. According to the Communication Equipment Company, earnings per share came in at $0.29, beating analysts’ expectations of $0.26 by 0.03. This compares to $0.10 EPS in the same period last year. The net profit margin was 4.70% and return on equity was 59.70% for EXTR. The company reported revenue of $332.51 million for the quarter, compared to $285.51 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.46 percent. For the current quarter, analysts expect EXTR to generate $343.53M in revenue.
Extreme Networks Inc.(EXTR) Company Profile
Extreme Networks, Inc. provides software-driven networking solutions worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops software for network management, policy, analytics, security, and access controls. The company offers ExtremeCloud IQ, an ML/AI powered, wired, and wireless cloud network management solution that offers advanced visibility and control over users, devices, and applications; ExtremeCloud IQ Site Engine that provides task automation, access control, granular visibility with real-time analytics and multi-vendor device management; and ExtremeCloud IQ Essentials offers WIPS, location services, IoT, and guest management services. It also provides wireless access point products; ExtremeSwitching portfolio that includes access edge products that offer physical presentations along with options to deliver Ethernet or convergence-friendly Power-over-Ethernet (POE), including high-power universal POE; ExtremeCloud SD-WAN, a software-defined wide area networks solution offers an all-inclusive subscription, which includes hardware, the cloud-based SD-WAN service, support and maintenance, and customer success support; aggregation/core switches designed to address aggregation, top-of-rack, and campus core environments; and data center switches and routers. In addition, the company offers cloud native platforms and applications for service providers; and customer support and services. It markets and sells its products through distributors, resellers, and field sales organizations to healthcare, education, government, manufacturing, retail, and hospitality markets. Extreme Networks, Inc. was incorporated in 1996 and is headquartered in Morrisville, North Carolina.
