Extreme Networks (NASDAQ:EXTR – Get Rating) issued an update on its fourth quarter 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.12-$0.18 for the period, compared to the consensus 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.
Extreme Networks stock opened at $8.73 on Monday. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.89 and a current ratio of 0.98. The firm has a market cap of $1.14 billion, a P/E ratio of 22.97 and a beta of 1.98. The business’s fifty day moving average is $10.12 and its two-hundred day moving average is $11.94. Extreme Networks has a 52 week low of $8.49 and a 52 week high of $16.60.
Extreme Networks (NASDAQ:EXTR – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $285.50 million during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.09 earnings per share. On average, equities research analysts predict that Extreme Networks will post 0.49 earnings per share for the current year.
A number of research firms recently issued reports on EXTR. Lake Street Capital increased their price objective on Extreme Networks from $16.00 to $17.00 and gave the stock a buy rating in a report on Thursday, March 17th. StockNews.com upgraded Extreme Networks from a buy rating to a strong-buy rating in a report on Tuesday, May 10th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $17.50.
In other news, CEO Edward Meyercord sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The stock was 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 directly owns 778,650 shares of the company’s stock, valued at $9,483,957. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in EXTR. Captrust Financial Advisors increased its stake in Extreme Networks by 389.4% during the 1st quarter. Captrust Financial Advisors now owns 4,463 shares of the technology company’s stock worth $54,000 after acquiring an additional 3,551 shares during the period. Janus Henderson Group PLC bought a new position in Extreme Networks during the 3rd quarter worth $123,000. Ergoteles LLC bought a new position in Extreme Networks during the 1st quarter worth $139,000. Eqis Capital Management Inc. bought a new position in Extreme Networks during the 1st quarter worth $181,000. Finally, Wellington Management Group LLP bought a new position in Extreme Networks during the 1st quarter worth $240,000. 84.70% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Extreme Networks (EXTR)
- Ride Out The Recession With These Dividend Kings
- MarketBeat: Week in Review 6/13 – 6/17
- eBay’s Long Term Fundamentals Are Intact If You Can Stomach Short Term Volatility
- Honda’s Stock Continues To Fly Under The Radar
- Vuzix Stock Stays Optimistic
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Extreme Networks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Extreme Networks and related companies with MarketBeat.com’s FREE daily email newsletter.