Extreme Networks (NASDAQ:EXTR) Hits New 12-Month High – Time to Buy?

Extreme Networks, Inc. (NASDAQ:EXTR) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.22 and last traded at $24.2640, with a volume of 59359 shares changing hands. The stock had previously closed at $24.04.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EXTR shares. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Weiss Ratings upgraded Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 1st. Lake Street Capital reiterated a “buy” rating and issued a $25.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Needham & Company LLC boosted their price target on Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, UBS Group set a $28.00 price target on Extreme Networks in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Extreme Networks Stock Performance

The stock has a market capitalization of $2.98 billion, a P/E ratio of 189.92, a P/E/G ratio of 2.30 and a beta of 1.77. The stock has a 50 day moving average of $17.00 and a 200 day moving average of $16.67. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Equities analysts predict that Extreme Networks, Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling

In related news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $23.20, for a total transaction of $232,000.00. Following the completion of the transaction, the director directly owned 210,062 shares in the company, valued at $4,873,438.40. This represents a 4.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Edward H. Kennedy sold 50,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $22.86, for a total value of $1,143,000.00. Following the completion of the transaction, the director directly owned 576,045 shares of the company’s stock, valued at approximately $13,168,388.70. The trade was a 7.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 270,000 shares of company stock worth $5,773,273 in the last three months. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in shares of Extreme Networks by 7.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock worth $166,000 after purchasing an additional 735 shares in the last quarter. SEB Asset Management AB bought a new position in shares of Extreme Networks in the first quarter worth $12,192,000. Aurora Investment Counsel bought a new position in shares of Extreme Networks in the first quarter worth $2,577,000. Gallacher Capital Management LLC bought a new position in shares of Extreme Networks in the first quarter worth $236,000. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Extreme Networks by 5.4% in the first quarter. Hillsdale Investment Management Inc. now owns 308,660 shares of the technology company’s stock worth $4,655,000 after purchasing an additional 15,880 shares in the last quarter. Institutional investors 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.