Extreme Networks (EXTR) Set to Announce Quarterly Earnings on Wednesday

Extreme Networks (NASDAQ:EXTR – Get Rating) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, January 25th. Analysts expect the company to announce earnings of $0.24 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Extreme Networks (NASDAQ:EXTR – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $297.69 million for the quarter, compared to analyst estimates of $284.70 million. Extreme Networks had a net margin of 3.87% and a return on equity of 69.86%. On average, analysts expect Extreme Networks to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Extreme Networks Trading Down 1.6 %

NASDAQ:EXTR traded down $0.32 on Tuesday, reaching $19.31. 816,743 shares of the company’s stock were exchanged, compared to its average volume of 1,143,464. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 58.52 and a beta of 2.10. The business has a fifty day moving average of $19.24 and a 200-day moving average of $15.79. Extreme Networks has a 52-week low of $8.49 and a 52-week high of $21.03.

Insider Activity at Extreme Networks

In related news, CRO Joseph A. Vitalone sold 20,226 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $16.06, for a total value of $324,829.56. Following the completion of the transaction, the executive now directly owns 41,298 shares of the company’s stock, valued at $663,245.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CRO Joseph A. Vitalone sold 20,226 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $16.06, for a total value of $324,829.56. Following the completion of the sale, the executive now directly owns 41,298 shares of the company’s stock, valued at $663,245.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ingrid Burton sold 9,000 shares of the stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $20.35, for a total value of $183,150.00. Following the completion of the sale, the director now directly owns 63,243 shares of the company’s stock, valued at $1,286,995.05. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock valued at $829,528 over the last three months. 3.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

Several large investors have recently modified their holdings of EXTR. Capital Research Global Investors boosted its holdings in shares of Extreme Networks by 24.0% in the first quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company’s stock valued at $134,986,000 after acquiring an additional 2,141,000 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Extreme Networks by 7.3% in the first quarter. Vanguard Group Inc. now owns 12,066,504 shares of the technology company’s stock valued at $147,332,000 after acquiring an additional 821,201 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Extreme Networks by 16.5% in the second quarter. Goldman Sachs Group Inc. now owns 3,589,950 shares of the technology company’s stock valued at $32,022,000 after acquiring an additional 507,902 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Extreme Networks by 67.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,067,952 shares of the technology company’s stock worth $13,040,000 after purchasing an additional 430,202 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Extreme Networks by 1.6% during the first quarter. BlackRock Inc. now owns 17,359,864 shares of the technology company’s stock worth $211,964,000 after purchasing an additional 281,710 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXTR has been the topic of a number of recent research reports. TheStreet upgraded shares of Extreme Networks from a “c+” rating to a “b” rating in a research note on Thursday, October 27th. Lake Street Capital boosted their price objective on Extreme Networks from $15.00 to $19.00 in a research report on Friday, October 28th. B. Riley boosted their price objective on Extreme Networks from $18.00 to $23.00 in a research report on Friday, October 28th. Craig Hallum boosted their price objective on Extreme Networks from $19.00 to $22.00 in a research report on Friday, October 28th. Finally, Cowen boosted their price objective on Extreme Networks to $18.00 in a research report on Tuesday, November 1st. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Extreme Networks presently has an average rating of “Buy” and a consensus price target of $21.17.

About Extreme Networks

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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.