Extreme Networks (NASDAQ:EXTR) Shares Down 5.4% – Time to Sell?

Extreme Networks, Inc. (NASDAQ:EXTR)’s share price dropped 5.4% during mid-day trading on Thursday . The stock traded as low as $17.25 and last traded at $17.2210. Approximately 278,859 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,368,100 shares. The stock had previously closed at $18.20.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EXTR shares. Weiss Ratings restated a “hold (c-)” rating on shares of Extreme Networks in a report on Monday. Oppenheimer upgraded Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Thursday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 target price on shares of Extreme Networks in a research note on Monday, November 24th. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Finally, Bank of America began coverage on Extreme Networks in a research report on Wednesday, November 19th. They set a “buy” rating and a $24.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Extreme Networks Trading Down 4.9%

The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 2.32. The business has a 50 day simple moving average of $18.71 and a two-hundred day simple moving average of $18.89. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 247.34, a price-to-earnings-growth ratio of 2.00 and a beta of 1.67.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, October 29th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $310.25 million during the quarter, compared to analysts’ expectations of $295.72 million. Extreme Networks had a return on equity of 81.83% and a net margin of 0.73%.The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. Extreme Networks has set its Q2 2026 guidance at 0.230-0.250 EPS. As a group, equities analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Insider Activity

In other news, CEO Edward Meyercord sold 50,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $17.46, for a total transaction of $873,000.00. Following the transaction, the chief executive officer owned 1,871,418 shares of the company’s stock, valued at approximately $32,674,958.28. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EXTR. Vanguard Group Inc. grew its position in shares of Extreme Networks by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 18,325,419 shares of the technology company’s stock worth $242,445,000 after acquiring an additional 406,350 shares in the last quarter. State Street Corp boosted its holdings in Extreme Networks by 0.4% in the second quarter. State Street Corp now owns 5,392,673 shares of the technology company’s stock worth $96,798,000 after purchasing an additional 24,120 shares during the period. Paradigm Capital Management Inc. NY increased its stake in Extreme Networks by 0.7% during the first quarter. Paradigm Capital Management Inc. NY now owns 5,225,200 shares of the technology company’s stock valued at $69,129,000 after purchasing an additional 35,400 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Extreme Networks by 21.7% during the second quarter. American Century Companies Inc. now owns 3,494,851 shares of the technology company’s stock worth $62,733,000 after purchasing an additional 622,953 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Extreme Networks by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,191,820 shares of the technology company’s stock worth $57,301,000 after buying an additional 33,045 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

About Extreme Networks

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.