Extreme Networks (NASDAQ:EXTR) Stock Price Up 8.9% – Here’s Why

Extreme Networks, Inc. (NASDAQ:EXTR)’s share price shot up 8.9% during trading on Thursday . The stock traded as high as $24.51 and last traded at $24.7880. 1,825,178 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 2,056,311 shares. The stock had previously closed at $22.77.

Wall Street Analysts Forecast Growth

Several research firms have commented on EXTR. Wall Street Zen lowered Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC upped their price objective on Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. B. Riley Financial restated a “buy” rating on shares of Extreme Networks in a research report on Thursday, April 30th. Lake Street Capital restated a “buy” rating and issued a $25.00 price objective on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, UBS Group set a $28.00 price objective on Extreme Networks in a research report on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Extreme Networks Stock Down 0.2%

The business has a fifty day simple moving average of $17.59 and a two-hundred day simple moving average of $16.77. 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 company has a market cap of $3.22 billion, a PE ratio of 205.50, a price-to-earnings-growth ratio of 2.33 and a beta of 1.77.

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

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Edward H. Kennedy sold 50,000 shares of the firm’s 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 owned 576,045 shares in the company, valued at approximately $13,168,388.70. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 270,000 shares of company stock worth $5,773,273. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extreme Networks in the 3rd quarter worth $31,000. Rockefeller Capital Management L.P. increased its stake in shares of Extreme Networks by 313.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,484 shares during the last quarter. CWM LLC increased its stake in shares of Extreme Networks by 44.8% in the 3rd quarter. CWM LLC now owns 2,095 shares of the technology company’s stock worth $43,000 after acquiring an additional 648 shares during the last quarter. Quarry LP increased its stake in shares of Extreme Networks by 74.9% in the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after acquiring an additional 1,118 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Extreme Networks by 136.8% in the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after acquiring an additional 1,861 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

About Extreme Networks

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.