Needham & Company LLC Cuts Extreme Networks (NASDAQ:EXTR) Price Target to $35.00

Extreme Networks (NASDAQ:EXTR) had its price target decreased by Needham & Company LLC from $38.00 to $35.00 in a report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. UBS Group set a $28.00 target price on shares of Extreme Networks in a research report on Thursday, April 30th. Rosenblatt Securities upped their price target on shares of Extreme Networks from $29.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. B. Riley Financial reiterated a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. Wall Street Zen lowered shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Bank of America upped their target price on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Extreme Networks Stock Down 1.4%

EXTR opened at $23.97 on Wednesday. The stock’s 50 day moving average price is $30.27 and its 200 day moving average price is $21.88. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.78. The stock has a market cap of $3.13 billion, a P/E ratio of 77.33, a P/E/G ratio of 1.48 and a beta of 1.79. Extreme Networks has a 12 month low of $13.48 and a 12 month high of $33.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The company had revenue of $338.55 million during the quarter, compared to analyst estimates of $332.49 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. As a group, research analysts predict that Extreme Networks will post 0.81 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other news, Director Kathleen M. Holmgren sold 19,521 shares of Extreme Networks stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $24.78, for a total value of $483,730.38. Following the transaction, the director owned 219,308 shares of the company’s stock, valued at $5,434,452.24. The trade was a 8.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Edward Meyercord sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the completion of the sale, the chief executive officer owned 1,721,902 shares in the company, valued at $44,941,642.20. The trade was a 5.49% 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. In the last quarter, insiders have sold 422,182 shares of company stock worth $11,905,205. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

A number of institutional investors and hedge funds have recently modified their holdings of EXTR. Royal Bank of Canada grew its holdings in shares of Extreme Networks by 20.8% in the 1st quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock worth $974,000 after acquiring an additional 12,667 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Extreme Networks by 6.6% in the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock valued at $455,000 after purchasing an additional 2,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Extreme Networks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock worth $1,015,000 after buying an additional 3,349 shares during the period. Millennium Management LLC grew its holdings in shares of Extreme Networks by 163.0% during the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock valued at $16,675,000 after buying an additional 781,103 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Extreme Networks by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company’s stock valued at $4,226,000 after buying an additional 22,209 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks News Summary

Here are the key news stories impacting Extreme Networks this week:

• Positive Sentiment: Strong quarterly results: Extreme Networks reported fiscal Q4 adjusted EPS of $0.32, ahead of the $0.29 consensus estimate, while revenue of $338.55 million exceeded expectations of $332.49 million and increased 10.3% year over year. The company also issued fiscal 2027 EPS guidance of $1.28-$1.33. Extreme Networks Fiscal Q4 Earnings Snapshot
• Positive Sentiment: B. Riley raised its target: B. Riley Financial increased its price target from $28 to $34 and maintained a “buy” rating, signaling substantial potential upside based on its outlook for EXTR. Extreme Networks Price Target Raised at B. Riley Financial
• Positive Sentiment: Rosenblatt remains bullish: Rosenblatt Securities trimmed its target modestly from $39 to $38 but retained a “buy” rating, indicating continued confidence despite the adjustment.
• Neutral Sentiment: Upcoming investor conferences: Extreme Networks will participate in investor conferences during August and September, giving management opportunities to discuss demand, execution, and its financial outlook with investors. Extreme Networks Announces Investor Conferences
• Negative Sentiment: Insider selling pressured the shares: Reports of insider sales prompted a gap lower, raising concerns about management or other insiders reducing exposure after the stock’s previous rally. Extreme Networks Shares Gap Down on Insider Selling
• Negative Sentiment: Valuation concerns remain: One analysis argues that Extreme Networks is still overvalued even after its pullback. With a high earnings multiple and only modest profitability, investors may be taking profits despite the earnings beat. Extreme Networks Q4 Fine Print But Still Overvalued After the Pullback
• Negative Sentiment: Mixed target revisions: Needham lowered its price target to $35, while the differing analyst revisions suggest expectations remain positive but are not uniformly strengthening. Extreme Networks Price Target Lowered at Needham

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.