Extreme Networks (NASDAQ:EXTR) Price Target Raised to $38.00

Extreme Networks (NASDAQ:EXTR) had its price objective hoisted by Needham & Company LLC from $26.00 to $38.00 in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other equities analysts have also issued reports about the company. B. Riley Financial reissued a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. Lake Street Capital boosted their target price on Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. UBS Group set a $28.00 price target on Extreme Networks in a research note on Thursday, April 30th. Finally, Bank of America lifted their price objective on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.83.

Extreme Networks Stock Performance

Shares of EXTR stock opened at $29.49 on Wednesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 245.75, a P/E/G ratio of 1.83 and a beta of 1.77. Extreme Networks has a 52 week low of $13.48 and a 52 week high of $33.73. The firm’s 50-day simple moving average is $29.61 and its two-hundred day simple moving average is $21.00.

Extreme Networks (NASDAQ:EXTR) last released its earnings results 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. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The firm had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. During the same period in the prior year, the firm earned $0.21 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, equities analysts forecast that Extreme Networks will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other Extreme Networks news, Director Kathleen M. Holmgren sold 19,521 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $24.78, for a total transaction of $483,730.38. Following the sale, the director owned 219,308 shares in the company, valued at $5,434,452.24. This represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total value of $2,610,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,721,902 shares of the company’s stock, valued at $44,941,642.20. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 592,182 shares of company stock worth $15,423,978 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Trading of Extreme Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in Extreme Networks in the 3rd quarter worth about $31,000. Rockefeller Capital Management L.P. grew its holdings in Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after buying an additional 1,484 shares in the last quarter. CWM LLC increased its position in shares of Extreme Networks by 51.7% during the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock valued at $53,000 after buying an additional 1,084 shares during the period. Quarry LP increased its position in shares of Extreme Networks by 74.9% during the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after buying an additional 1,118 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Extreme Networks by 136.8% in the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after buying an additional 1,861 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

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.