Extreme Networks (NASDAQ:EXTR) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Extreme Networks, Inc. (NASDAQ:EXTR) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $22.46 and traded as high as $23.08. Extreme Networks shares last traded at $22.70, with a volume of 1,324,188 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EXTR shares. Rosenblatt Securities reissued a “buy” rating and set a $38.00 price target on shares of Extreme Networks in a research report on Thursday, October 22nd. Craig Hallum restated a “buy” rating and set a $31.00 price objective on shares of Extreme Networks in a research note on Thursday, August 6th. Weiss Ratings raised shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 16th. B. Riley Financial boosted their target price on shares of Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Needham & Company LLC lowered their target price on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Extreme Networks Stock Up 3.3%

The company has a market cap of $3.00 billion, a price-to-earnings ratio of 73.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.76. The stock has a 50-day simple moving average of $22.46 and a 200-day simple moving average of $21.83. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $338.55 million for the quarter, compared to analyst estimates of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. 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, analysts predict that Extreme Networks, Inc. will post 0.75 EPS for the current year.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 50,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the sale, the chief executive officer directly owned 1,596,475 shares in the company, valued at approximately $47,558,990.25. The trade was a 3.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 21,825 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $22.30, for a total transaction of $486,697.50. Following the sale, the chief financial officer owned 196,803 shares in the company, valued at $4,388,706.90. This trade represents a 9.98% 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. Insiders sold a total of 121,825 shares of company stock valued at $3,064,698 in the last quarter. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Extreme Networks during the second quarter valued at approximately $674,661,000. Paradigm Capital Management Inc. NY raised its holdings in Extreme Networks by 5.3% during the first quarter. Paradigm Capital Management Inc. NY now owns 5,234,900 shares of the technology company’s stock worth $78,942,000 after purchasing an additional 262,400 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Extreme Networks by 7.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,247,680 shares of the technology company’s stock worth $48,975,000 after purchasing an additional 230,617 shares during the period. Southernsun Asset Management LLC lifted its position in Extreme Networks by 16.6% in the first quarter. Southernsun Asset Management LLC now owns 2,297,933 shares of the technology company’s stock worth $34,653,000 after purchasing an additional 327,047 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Extreme Networks by 32.6% in the first quarter. Renaissance Technologies LLC now owns 2,076,080 shares of the technology company’s stock worth $31,307,000 after purchasing an additional 510,215 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Company Profile

Extreme Networks, Inc develops networking solutions that help organizations connect, manage and secure users, devices and applications across campus, data center and distributed environments. Its portfolio includes wired and wireless network infrastructure, Ethernet switches, access points, software-defined wide-area networking (SD-WAN), network access control and cloud-based network management.

The company’s ExtremeCloud platform supports centralized monitoring, configuration, analytics and automation for network operations.