Extreme Networks (NASDAQ:EXTR) Hits New 1-Year High – What’s Next?

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.21 and last traded at $25.0510, with a volume of 435688 shares changing hands. The stock had previously closed at $23.90.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EXTR. Needham & Company LLC lifted their price target on Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. UBS Group set a $28.00 price target on Extreme Networks in a research report on Thursday, April 30th. Rosenblatt Securities reiterated a “buy” rating and set a $25.00 price target on shares of Extreme Networks in a research report on Thursday, January 29th. Lake Street Capital reiterated a “buy” rating and set a $25.00 price target on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Weiss Ratings cut Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Extreme Networks Stock Up 5.9%

The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 211.58, a PEG ratio of 2.22 and a beta of 1.77. The stock has a fifty day moving average of $18.35 and a 200-day moving average of $16.87.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $316.87 million for the quarter, compared to analysts’ expectations of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, sell-side analysts expect that Extreme Networks, Inc. will post 0.53 EPS for the current year.

Insiders Place Their Bets

In related news, Director Edward H. Kennedy sold 50,000 shares of Extreme Networks stock in a transaction on Monday, May 4th. The stock was sold at an average price of $22.86, for a total value of $1,143,000.00. Following the transaction, the director directly owned 576,045 shares in the company, valued at $13,168,388.70. The trade was a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $23.20, for a total value of $232,000.00. Following the completion of the transaction, the director owned 210,062 shares in the company, valued at $4,873,438.40. The trade was a 4.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 297,182 shares of company stock worth $6,448,528. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC grew its holdings in shares of Extreme Networks by 44.8% during the third quarter. CWM LLC now owns 2,095 shares of the technology company’s stock valued at $43,000 after buying an additional 648 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Extreme Networks by 3.1% during the third quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company’s stock valued at $470,000 after buying an additional 683 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Extreme Networks by 1.8% during the third quarter. Arizona State Retirement System now owns 39,405 shares of the technology company’s stock valued at $814,000 after buying an additional 685 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Extreme Networks by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company’s stock valued at $426,000 after buying an additional 735 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Extreme Networks by 7.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock valued at $166,000 after buying an additional 735 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.