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

Extreme Networks (NASDAQ:EXTRGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Monday morning. The company provided EPS guidance of $0.12-$0.18 for the period, compared to the consensus EPS 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 stock opened at $9.23 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 2.82. Extreme Networks has a 52 week low of $8.97 and a 52 week high of $16.60. The firm has a 50 day moving average of $10.45 and a 200 day moving average of $12.08. The stock has a market capitalization of $1.21 billion, a PE ratio of 24.29 and a beta of 1.98.

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

Several equities analysts recently issued reports on EXTR shares. StockNews.com upgraded shares of Extreme Networks from a buy rating to a strong-buy rating in a research note on Tuesday, May 10th. Lake Street Capital boosted their target price on shares of Extreme Networks from $16.00 to $17.00 and gave the company a buy rating in a research note on Thursday, March 17th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $17.50.

In related news, CEO Edward Meyercord sold 25,000 shares of the business’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $12.18, for a total value of $304,500.00. Following the completion of the sale, the chief executive officer now owns 778,650 shares of the company’s stock, valued at approximately $9,483,957. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in Extreme Networks by 233.7% in the 1st quarter. Bank of America Corp DE now owns 284,509 shares of the technology company’s stock worth $3,474,000 after acquiring an additional 199,259 shares in the last quarter. Capital Research Global Investors increased its holdings in Extreme Networks by 24.0% in the 1st quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company’s stock worth $134,986,000 after acquiring an additional 2,141,000 shares in the last quarter. Keeley Teton Advisors LLC purchased a new stake in shares of Extreme Networks during the first quarter worth $987,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Extreme Networks by 91.3% during the first quarter. Dynamic Technology Lab Private Ltd now owns 43,011 shares of the technology company’s stock worth $525,000 after buying an additional 20,524 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Extreme Networks during the first quarter worth $181,000. 84.70% of the stock is owned by institutional investors.

Extreme Networks Company Profile (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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