Extreme Networks (NASDAQ:EXTR) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Extreme Networks (NASDAQ:EXTR) from a strong-buy rating to a buy rating in a research report report published on Saturday.

Several other equities analysts have also recently issued reports on the stock. Bank of America assumed coverage on shares of Extreme Networks in a research note on Wednesday, November 19th. They issued a “buy” rating and a $24.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Extreme Networks in a report on Monday, November 24th. B. Riley reiterated a “buy” rating on shares of Extreme Networks in a research report on Thursday, October 30th. Oppenheimer upgraded Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Extreme Networks in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Extreme Networks has an average rating of “Moderate Buy” and a consensus target price of $23.83.

Extreme Networks Stock Down 0.8%

Shares of EXTR stock opened at $15.96 on Friday. Extreme Networks has a fifty-two week low of $10.10 and a fifty-two week high of $22.89. The firm has a market capitalization of $2.13 billion, a PE ratio of 228.00, a P/E/G ratio of 1.77 and a beta of 1.64. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.75 and a current ratio of 0.91. The stock’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $18.85.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, October 29th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. Extreme Networks had a return on equity of 81.83% and a net margin of 0.73%.The firm had revenue of $310.25 million for the quarter, compared to analyst estimates of $295.72 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Extreme Networks’s revenue for the quarter was up 15.2% on a year-over-year basis. Extreme Networks has set its Q2 2026 guidance at 0.230-0.250 EPS. Equities analysts expect that Extreme Networks will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 50,000 shares of Extreme Networks stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $16.54, for a total transaction of $827,000.00. Following the sale, the chief executive officer owned 1,871,418 shares of the company’s stock, valued at $30,953,253.72. The trade was a 2.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds and other institutional investors have recently modified their holdings of EXTR. Salomon & Ludwin LLC purchased a new stake in Extreme Networks during the 3rd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Extreme Networks during the 3rd quarter worth approximately $31,000. CWM LLC grew its position in shares of Extreme Networks by 44.8% in the third quarter. CWM LLC now owns 2,095 shares of the technology company’s stock valued at $43,000 after purchasing an additional 648 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Extreme Networks by 85.4% in the third quarter. Farther Finance Advisors LLC now owns 2,201 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,118 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Company Profile

Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company’s product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme’s Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.