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

Extreme Networks (NASDAQ:EXTRGet Rating) updated its fourth quarter 2022 earnings guidance on Monday. 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 has been the topic of several research reports. Zacks Investment Research cut shares of Extreme Networks from a buy rating to a hold rating in a research report on Monday, April 4th. Lake Street Capital increased their price target 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. Finally, StockNews.com upgraded shares of Extreme Networks from a buy rating to a strong-buy rating in a research report on Tuesday, May 10th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $16.63.

Shares of NASDAQ:EXTR traded up $0.19 during midday trading on Monday, hitting $10.23. 6,364 shares of the stock were exchanged, compared to its average volume of 1,224,950. The stock has a market cap of $1.34 billion, a P/E ratio of 26.42 and a beta of 1.98. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 2.82. Extreme Networks has a twelve month low of $8.97 and a twelve month high of $16.60. The company has a 50 day moving average price of $10.70 and a 200-day moving average price of $12.21.

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

In related news, CEO Edward Meyercord sold 25,000 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $12.18, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Captrust Financial Advisors grew its position in Extreme Networks by 389.4% in the first quarter. Captrust Financial Advisors now owns 4,463 shares of the technology company’s stock valued at $54,000 after acquiring an additional 3,551 shares in the last quarter. Ergoteles LLC purchased a new position in shares of Extreme Networks during the 1st quarter valued at approximately $139,000. Janus Henderson Group PLC purchased a new position in shares of Extreme Networks during the 3rd quarter valued at approximately $123,000. Eqis Capital Management Inc. purchased a new position in shares of Extreme Networks during the 1st quarter valued at approximately $181,000. Finally, Wellington Management Group LLP purchased a new position in shares of Extreme Networks during the 1st quarter valued at approximately $240,000. 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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