Extreme Networks, Inc. (NASDAQ:EXTR) Stock Has Average Target Price of $32.25

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $32.25.

EXTR has been the topic of a number of recent research reports. Needham & Company LLC reduced their target price on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Rosenblatt Securities lowered their price target on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. B. Riley Financial lifted their price target on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th.

Extreme Networks Price Performance

EXTR stock opened at $21.73 on Thursday. The firm has a market cap of $2.87 billion, a P/E ratio of 70.10, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.81 and a current ratio of 0.93. Extreme Networks has a 1 year low of $13.48 and a 1 year high of $33.73. The stock has a 50-day simple moving average of $22.63 and a 200-day simple moving average of $24.66.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share 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 firm had revenue of $338.55 million during the quarter, compared to analysts’ expectations of $332.49 million. During the same quarter in the prior year, the business earned $0.25 EPS. Extreme Networks’s quarterly revenue was up 10.3% compared to the same quarter last year. 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. On average, equities analysts predict that Extreme Networks will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at Extreme Networks

In related news, CFO Kevin R. Rhodes sold 21,825 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $22.30, for a total value of $486,697.50. Following the completion of the transaction, the chief financial officer owned 196,803 shares of the company’s stock, valued at approximately $4,388,706.90. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Edward Meyercord sold 50,000 shares of Extreme Networks stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $21.77, for a total value of $1,088,500.00. Following the sale, the chief executive officer owned 1,710,097 shares in the company, valued at $37,228,811.69. This represents a 2.84% 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 have sold 121,825 shares of company stock worth $3,064,698. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC lifted its holdings in Extreme Networks by 72.3% during the 3rd quarter. CoreCap Advisors LLC now owns 1,201 shares of the technology company’s stock worth $26,000 after buying an additional 504 shares during the last quarter. Byrne Asset Management LLC increased its holdings in shares of Extreme Networks by 18.1% in the 3rd quarter. Byrne Asset Management LLC now owns 10,676 shares of the technology company’s stock valued at $235,000 after acquiring an additional 1,636 shares during the last quarter. Bienville Capital Management LLC bought a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $263,000. WINTON GROUP Ltd increased its holdings in shares of Extreme Networks by 326.4% in the 2nd quarter. WINTON GROUP Ltd now owns 43,464 shares of the technology company’s stock valued at $1,407,000 after acquiring an additional 33,270 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $25,000. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

About Extreme Networks

Extreme Networks, Inc (NASDAQ: EXTR) develops enterprise networking solutions that help organizations connect, manage and secure users, devices and applications. Its portfolio includes wired and wireless network infrastructure, cloud-managed networking, network management software, analytics, security capabilities and software-defined wide-area networking solutions.

The company serves a broad range of customers, including businesses, schools and universities, healthcare organizations, government agencies, retailers, manufacturers and hospitality providers.