Extreme Networks (NASDAQ:EXTR) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Extreme Networks (NASDAQ:EXTR) in a research report released on Monday morning,Benzinga reports. The firm currently has a $24.00 price objective on the technology company’s stock.

A number of other brokerages have also issued reports on EXTR. Oppenheimer raised Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research note on Thursday, October 30th. UBS Group boosted their price target 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. Lake Street Capital upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $25.00 target price on shares of Extreme Networks in a report on Tuesday, November 11th. Finally, B. Riley restated a “buy” rating on shares of Extreme Networks in a research report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price of $23.83.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $17.08 on Monday. 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 has a twelve month low of $10.10 and a twelve month high of $22.89. The stock has a 50-day moving average of $19.66 and a 200 day moving average of $18.77. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 244.00, a PEG ratio of 1.89 and a beta of 1.82.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $310.25 million during the quarter, compared to analyst estimates of $295.72 million. Extreme Networks had a net margin of 0.73% and a return on equity of 81.83%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. Extreme Networks has set its FY 2026 guidance at EPS. Q2 2026 guidance at 0.230-0.250 EPS. Sell-side analysts anticipate that Extreme Networks will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $21.52, for a total transaction of $301,280.00. Following the completion of the sale, the chief financial officer owned 126,202 shares in the company, valued at $2,715,867.04. This trade represents a 9.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EXTR. CWM LLC boosted its position in shares of Extreme Networks by 44.8% during the third quarter. CWM LLC now owns 2,095 shares of the technology company’s stock worth $43,000 after buying an additional 648 shares during the period. Envestnet Asset Management Inc. lifted its stake in Extreme Networks by 3.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company’s stock worth $470,000 after acquiring an additional 683 shares in the last quarter. Arizona State Retirement System boosted its holdings in Extreme Networks by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 39,405 shares of the technology company’s stock valued at $814,000 after acquiring an additional 685 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in Extreme Networks by 3.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 29,356 shares of the technology company’s stock valued at $527,000 after acquiring an additional 934 shares during the period. Finally, Vestcor Inc grew its position in Extreme Networks by 4.6% in the 1st quarter. Vestcor Inc now owns 22,462 shares of the technology company’s stock valued at $297,000 after acquiring an additional 988 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

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.