Extreme Networks (NASDAQ:EXTR) Releases Q2 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.16-0.20 for the period, compared to the consensus earnings per share estimate of $0.18. The company issued revenue guidance of $273-283 million, compared to the consensus revenue estimate of $277.91 million. Extreme Networks also updated its FY 2025 guidance to EPS.

Extreme Networks Price Performance

Shares of EXTR traded up $0.16 during trading hours on Friday, reaching $15.09. 1,441,871 shares of the stock traded hands, compared to its average volume of 1,870,505. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $18.77. The company’s 50-day moving average price is $14.88 and its two-hundred day moving average price is $13.29. The company has a market cap of $1.99 billion, a P/E ratio of -15.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The company had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. Extreme Networks’s revenue was down 29.5% on a year-over-year basis. On average, analysts anticipate that Extreme Networks will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EXTR. Rosenblatt Securities raised their target price on shares of Extreme Networks from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. B. Riley raised their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday. Craig Hallum upped their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

Insider Transactions at Extreme Networks

In related news, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the director now owns 228,733 shares in the company, valued at $3,780,956.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the director now directly owns 228,733 shares in the company, valued at $3,780,956.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,175 shares of company stock valued at $1,763,279 over the last three months. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.