Research Analysts Set Expectations for Extreme Networks, Inc.’s Q4 2023 Earnings (NASDAQ:EXTR)

Extreme Networks, Inc. (NASDAQ:EXTRGet Rating) – Investment analysts at B. Riley raised their Q4 2023 earnings per share (EPS) estimates for shares of Extreme Networks in a research note issued to investors on Saturday, July 30th. B. Riley analyst D. Kang now expects that the technology company will post earnings per share of $0.27 for the quarter, up from their prior estimate of $0.25. The consensus estimate for Extreme Networks’ current full-year earnings is $0.65 per share.

Several other equities analysts also recently weighed in on EXTR. StockNews.com raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 10th. Rosenblatt Securities lifted their price objective on Extreme Networks from $13.50 to $15.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Needham & Company LLC lifted their price objective on Extreme Networks from $13.50 to $14.50 and gave the company a “buy” rating in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $16.13.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $13.07 on Tuesday. The company has a market cap of $1.71 billion, a P/E ratio of 38.44 and a beta of 2.10. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.98 and a quick ratio of 0.88. The stock has a 50-day moving average of $9.95 and a two-hundred day moving average of $10.97. Extreme Networks has a 1-year low of $8.49 and a 1-year high of $16.60.

Extreme Networks (NASDAQ:EXTRGet Rating) last released its earnings results on Wednesday, July 27th. The technology company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $278.20 million during the quarter, compared to the consensus estimate of $268.96 million. Extreme Networks had a return on equity of 82.16% and a net margin of 3.98%. Extreme Networks’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS.

Insider Activity

In related news, CFO Remi Thomas sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $8.83, for a total transaction of $88,300.00. Following the completion of the sale, the chief financial officer now owns 94,454 shares in the company, valued at $834,028.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Remi Thomas sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $8.83, for a total transaction of $88,300.00. Following the completion of the sale, the chief financial officer now owns 94,454 shares in the company, valued at $834,028.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Joseph A. Vitalone sold 46,682 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $12.83, for a total value of $598,930.06. Following the sale, the executive now owns 44,979 shares of the company’s stock, valued at approximately $577,080.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,682 shares of company stock worth $902,630. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Extreme Networks

Several institutional investors have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC purchased a new stake in Extreme Networks in the fourth quarter valued at approximately $30,000. Meeder Asset Management Inc. purchased a new stake in Extreme Networks in the first quarter valued at approximately $36,000. Nisa Investment Advisors LLC purchased a new stake in Extreme Networks in the fourth quarter valued at approximately $37,000. Confluence Wealth Services Inc. purchased a new stake in Extreme Networks in the fourth quarter valued at approximately $40,000. Finally, Covestor Ltd purchased a new stake in Extreme Networks in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors 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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