Extreme Networks (NASDAQ:EXTR) Price Target Raised to $38.00 at Needham & Company LLC

Extreme Networks (NASDAQ:EXTR) had its target price boosted by Needham & Company LLC from $26.00 to $38.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

EXTR has been the subject of a number of other reports. Bank of America upped their target price on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Wall Street Zen lowered Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. UBS Group set a $28.00 price objective on Extreme Networks in a research note on Thursday, April 30th. Rosenblatt Securities increased their price objective on Extreme Networks from $29.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Lake Street Capital raised their target price on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.83.

Extreme Networks Price Performance

Shares of EXTR opened at $30.27 on Wednesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. Extreme Networks has a 1-year low of $13.48 and a 1-year high of $33.73. The stock has a market cap of $3.96 billion, a PE ratio of 252.25, a price-to-earnings-growth ratio of 1.87 and a beta of 1.77. The firm has a fifty day moving average price of $29.42 and a 200 day moving average price of $20.85.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The company had revenue of $316.87 million for the quarter, compared to analyst estimates of $311.48 million. During the same quarter last year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, sell-side analysts anticipate that Extreme Networks will post 0.53 EPS for the current year.

Insider Buying and Selling

In other news, Director Kathleen M. Holmgren sold 19,521 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $24.78, for a total value of $483,730.38. Following the transaction, the director owned 219,308 shares of the company’s stock, valued at approximately $5,434,452.24. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin R. Rhodes sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $30.43, for a total value of $1,065,050.00. Following the sale, the chief financial officer owned 151,296 shares of the company’s stock, valued at $4,603,937.28. This trade represents a 18.79% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 592,182 shares of company stock worth $15,423,978. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Extreme Networks

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Extreme Networks by 20.8% in the first quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock valued at $974,000 after acquiring an additional 12,667 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Extreme Networks by 6.6% during the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock worth $455,000 after acquiring an additional 2,122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Extreme Networks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock worth $1,015,000 after purchasing an additional 3,349 shares in the last quarter. Millennium Management LLC raised its holdings in Extreme Networks by 163.0% during the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after purchasing an additional 781,103 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Extreme Networks by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company’s stock valued at $4,226,000 after purchasing an additional 22,209 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

About Extreme Networks

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.