Stocks of Extreme Networks Inc. (NASDAQ:EXTR) traded higher last session on Wall Street, down -0.86% to $24.22.
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 $24.43, this indicates a potential upside of 43.27 percent. EXTR stock price is now -12.79% away from the 50-day moving average and 13.52% away from the 200-day moving average. The market capitalization of the company currently stands at $3.14B.
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 $5.5 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 $14.78 million. Insiders disposed of 1,128,110 shares of company stock worth roughly $27.32 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 $14,956,000. REDWOOD INVESTMENTS, LLC invested $12,121,000 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 $10,809,000. MAN GROUP PLC acquired a new stake in EXTR for approximately $9,927,000. SOUTH STREET ADVISORS LLC purchased a new stake in EXTR valued at around $8,287,000 in the second quarter. In total, there are 401 active investors with 88.80% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $24.52 for Extreme Networks Inc. (NASDAQ: EXTR). 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 1.90, 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 $3.21B, which is based on a 41.40 price-to-earnings ratio, a 2.07 price-to-earnings-growth ratio, and a beta of 2.05. The fifty day moving average price for EXTR is $27.74 and a two-hundred day moving average price translates $21.35 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 5.90% and return on equity was 75.20% 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.
Extreme Networks Inc.(EXTR) Company Profile
Extreme Networks, Inc. provides software-driven networking solutions worldwide. It designs, develops, and manufactures wired, wireless, and software-defined wide area-network infrastructure equipment. 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 local area networks access point products; ExtremeSwitching portfolio that includes access edge products, which offer connection speeds 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.
