Key Points
- Extreme Networks CFO Kevin Rhodes sold 21,825 shares at an average price of $22.30, generating approximately $486,698. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 9.98% to 196,803 shares.
- Extreme Networks reported quarterly EPS of $0.32 and revenue of $338.55 million, beating analyst estimates of $0.29 and $332.49 million, respectively. Revenue increased 10.3% year over year.
- Analyst sentiment remains broadly positive, with seven Buy ratings, one Hold and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $32.25 versus a recent price of $23.02.
Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CFO Kevin Rhodes sold 21,825 shares of the company's stock in a transaction on Friday, August 21st. The shares were 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 of the company's stock, valued at $4,388,706.90. This represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Extreme Networks Price Performance
Shares of Extreme Networks stock opened at $23.02 on Friday. The company's fifty day simple moving average is $29.14 and its two-hundred day simple moving average is $22.48. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73. The firm has a market cap of $3.00 billion, a PE ratio of 74.26, a price-to-earnings-growth ratio of 1.47 and a beta of 1.79. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63.
Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its 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. The company had revenue of $338.55 million during the quarter, compared to analyst estimates of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. Extreme Networks's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $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, equities analysts expect that Extreme Networks, Inc. will post 0.75 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have recently issued reports on EXTR. Needham & Company LLC decreased their target price on Extreme Networks from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Oppenheimer reissued an "outperform" rating on shares of Extreme Networks in a research note on Thursday, August 6th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Weiss Ratings cut shares of Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday. Finally, Rosenblatt Securities reduced their price objective on shares of Extreme Networks from $39.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $32.25.
Read Our Latest Report on EXTR
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of EXTR. Nykredit A S purchased a new stake in shares of Extreme Networks during the second quarter valued at $48,000. Susquehanna Fundamental Investments LLC increased its holdings in Extreme Networks by 379.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 136,131 shares of the technology company's stock worth $4,407,000 after buying an additional 107,718 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Extreme Networks in the 2nd quarter worth about $251,000. Empowered Funds LLC purchased a new position in Extreme Networks in the 2nd quarter worth about $710,000. Finally, Jefferies Financial Group Inc. bought a new position in Extreme Networks during the 2nd quarter valued at about $779,000. Hedge funds and other institutional investors own 91.05% of the company's stock.
About Extreme Networks
(
Get Free Report)
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.
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