Extreme Networks (NASDAQ:EXTR) Updates Q4 2022 Earnings Guidance

Extreme Networks (NASDAQ:EXTRGet Rating) updated its fourth quarter 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.12-$0.18 for the period, compared to the consensus earnings per share estimate of $0.14. The company issued revenue guidance of $265.00 million-$275.00 million, compared to the consensus revenue estimate of $269.47 million.

EXTR has been the subject of a number of research reports. StockNews.com upgraded Extreme Networks from a buy rating to a strong-buy rating in a research report on Tuesday, May 10th. Zacks Investment Research lowered Extreme Networks from a buy rating to a hold rating in a research report on Monday, April 4th. Finally, Lake Street Capital lifted their price target on Extreme Networks from $16.00 to $17.00 and gave the company a buy rating in a report on Thursday, March 17th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $16.63.

Shares of EXTR stock traded up $0.19 during trading on Monday, reaching $10.23. The company had a trading volume of 6,364 shares, compared to its average volume of 1,224,950. The firm’s 50 day simple moving average is $10.70 and its two-hundred day simple moving average is $12.21. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.98 and a quick ratio of 0.89. Extreme Networks has a one year low of $8.97 and a one year high of $16.60. The company has a market capitalization of $1.34 billion, a PE ratio of 26.42 and a beta of 1.98.

Extreme Networks (NASDAQ:EXTRGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Extreme Networks had a return on equity of 100.20% and a net margin of 4.42%. The business had revenue of $285.50 million for the quarter, compared to the consensus estimate of $280.77 million. During the same period last year, the business earned $0.09 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. Analysts forecast that Extreme Networks will post 0.49 earnings per share for the current year.

In other Extreme Networks news, CEO Edward Meyercord sold 25,000 shares of Extreme Networks stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $12.18, for a total value of $304,500.00. Following the transaction, the chief executive officer now directly owns 778,650 shares of the company’s stock, valued at approximately $9,483,957. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in Extreme Networks by 1.3% in the 4th quarter. Amalgamated Bank now owns 66,563 shares of the technology company’s stock valued at $1,045,000 after buying an additional 848 shares in the last quarter. Credit Suisse AG boosted its stake in Extreme Networks by 1.4% in the 4th quarter. Credit Suisse AG now owns 85,027 shares of the technology company’s stock valued at $1,335,000 after buying an additional 1,207 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Extreme Networks by 7.2% in the 1st quarter. Mackenzie Financial Corp now owns 48,780 shares of the technology company’s stock valued at $596,000 after buying an additional 3,261 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Extreme Networks by 3.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 105,697 shares of the technology company’s stock valued at $1,659,000 after buying an additional 3,299 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in Extreme Networks by 389.4% in the 1st quarter. Captrust Financial Advisors now owns 4,463 shares of the technology company’s stock valued at $54,000 after buying an additional 3,551 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

About Extreme Networks (Get Rating)

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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