Extreme Networks Inc. (NASDAQ:EXTR) shares traded -4.90% lower at $27.74 on Wall Street last session.
In accordance with the data, 7 analysts cover Extreme Networks Inc. (NASDAQ:EXTR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $36.00 and a low of $29.00, we find $35.00. Given the previous closing price of $29.17, this indicates a potential upside of 19.99 percent. EXTR stock price is now 3.40% away from the 50-day moving average and 34.98% away from the 200-day moving average. The market capitalization of the company currently stands at $3.48B.
It has been rated a hold by 2 analysts and a buy by 5. Brokers who have rated the stock have averaged $33.29 as their price target over the next twelve months.
With the price target enhanced from $25 to $30, B. Riley Securities Downgraded its rating from Buy to Neutral for Extreme Networks Inc. (NASDAQ: EXTR).
In other news, Khanna Raj, Director sold 10,000 shares of the company’s stock on Aug 09. The stock was sold for $308,678 at an average price of $30.87. Upon completion of the transaction, the Director now directly owns 227,267 shares in the company, valued at $6.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 07, PRESIDENT AND CEO MEYERCORD EDWARD sold 100,000 shares of the business’s stock. A total of $2,304,910 was realized by selling the stock at an average price of $23.05. This leaves the insider owning 610,385 shares of the company worth $16.93 million. Insiders disposed of 838,698 shares of company stock worth roughly $23.27 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 SCHRODER INVESTMENT MANAGEMENT GROUP during the first quarter worth $17,129,000. REDWOOD INVESTMENTS, LLC invested $13,882,000 in shares of EXTR during the first quarter. In the first quarter, LISANTI CAPITAL GROWTH, LLC acquired a new stake in Extreme Networks Inc. valued at approximately $12,380,000. MAN GROUP PLC acquired a new stake in EXTR for approximately $11,370,000. SOUTH STREET ADVISORS LLC purchased a new stake in EXTR valued at around $9,491,000 in the second quarter. In total, there are 401 active investors with 88.80% ownership of the company’s stock.
Extreme Networks Inc. (NASDAQ: EXTR) opened at $29.42 on Thursday. During the past 12 months, Extreme Networks Inc. has had a low of $12.09 and a high of $32.73. 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 $3.76B, which is based on a 47.34 price-to-earnings ratio, a 2.37 price-to-earnings-growth ratio, and a beta of 2.00. The fifty day moving average price for EXTR is $26.94 and a two-hundred day moving average price translates $20.60 for the stock.
The latest earnings results from Extreme Networks Inc. (NASDAQ: EXTR) was released for Jun, 2023. According to the Communication Equipment Company, earnings per share came in at $0.33, beating analysts’ expectations of $0.31 by 0.02. This compares to $0.04 EPS in the same period last year. The net profit margin was 3.70% and return on equity was 50.20% for EXTR. The company reported revenue of $363.91 million for the quarter, compared to $278.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 30.81 percent. For the current quarter, analysts expect EXTR to generate $346.81M in revenue.
