Extreme Networks (NASDAQ:EXTR) Shares Gap Up – Here’s Why

by · The Markets Daily

Extreme Networks, Inc. (NASDAQ:EXTR – Get Free Report)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $16.73, but opened at $17.42. Extreme Networks shares last traded at $17.1610, with a volume of 258,985 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EXTR. Needham & Company LLC restated a “buy” rating and set a $24.00 price target on shares of Extreme Networks in a research note on Wednesday, November 12th. Lake Street Capital upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $25.00 price target on shares of Extreme Networks in a report on Tuesday, November 11th. Wall Street Zen cut shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, UBS Group increased their price objective on shares of Extreme Networks from $15.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Extreme Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

Check Out Our Latest Research Report on Extreme Networks

Extreme Networks Stock Up 2.4%

The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 247.61, a price-to-earnings-growth ratio of 1.89 and a beta of 1.82. The firm has a 50-day moving average of $19.87 and a 200 day moving average of $18.67. The company has a current ratio of 0.91, a quick ratio of 0.74 and a debt-to-equity ratio of 2.32.

Extreme Networks (NASDAQ:EXTR – Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. Extreme Networks had a net margin of 0.73% and a return on equity of 81.83%. The company had revenue of $310.25 million for the quarter, compared to analyst estimates of $295.72 million. During the same quarter last year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. Extreme Networks has set its FY 2026 guidance at EPS. Q2 2026 guidance at 0.230-0.250 EPS. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 14,000 shares of Extreme Networks stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $21.52, for a total transaction of $301,280.00. Following the sale, the chief financial officer directly owned 126,202 shares of the company’s stock, valued at approximately $2,715,867.04. The trade was a 9.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds have recently bought and sold shares of the business. Salomon & Ludwin LLC purchased a new stake in Extreme Networks during the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Extreme Networks in the third quarter worth $31,000. CWM LLC raised its holdings in Extreme Networks by 44.8% in the third quarter. CWM LLC now owns 2,095 shares of the technology company’s stock valued at $43,000 after acquiring an additional 648 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Extreme Networks by 85.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,201 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Quarry LP boosted its stake in Extreme Networks by 74.9% during the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after acquiring an additional 1,118 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

About Extreme Networks

(Get Free Report)

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.

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