Extreme Networks (NASDAQ:EXTR) Price Target Raised to $38.00 at Needham & Company LLC

Extreme Networks (NASDAQ:EXTR) had its price objective upped by Needham & Company LLC from $26.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 24.84% from the stock’s current price.

Several other equities analysts also recently commented on EXTR. Rosenblatt Securities boosted their price target on shares of Extreme Networks from $29.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. UBS Group set a $28.00 price objective on Extreme Networks in a research note on Thursday, April 30th. Lake Street Capital lifted their target price on Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a report on Monday, June 15th. Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Finally, Bank of America upped their price target on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Extreme Networks Trading Up 0.5%

NASDAQ EXTR opened at $30.44 on Wednesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 253.67, a PEG ratio of 1.86 and a beta of 1.77. The firm has a 50 day simple moving average of $29.27 and a 200-day simple moving average of $20.75. Extreme Networks has a one year low of $13.48 and a one year high of $33.73.

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

Insider Activity at Extreme Networks

In other Extreme Networks news, Director Edward H. Kennedy sold 50,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $22.86, for a total value of $1,143,000.00. Following the sale, the director directly owned 576,045 shares of the company’s stock, valued at approximately $13,168,388.70. This represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Katayoun Motiey sold 30,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total transaction of $930,900.00. Following the completion of the sale, the insider owned 120,834 shares in the company, valued at $3,749,479.02. The trade was a 19.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 592,182 shares of company stock worth $15,423,978 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Extreme Networks

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Extreme Networks by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock worth $318,219,000 after purchasing an additional 349,199 shares during the last quarter. M&T Bank Corp increased its stake in Extreme Networks by 547.7% in the fourth quarter. M&T Bank Corp now owns 77,937 shares of the technology company’s stock valued at $1,298,000 after purchasing an additional 65,904 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Extreme Networks in the fourth quarter valued at approximately $1,009,000. Impax Asset Management Group plc raised its holdings in Extreme Networks by 10.5% during the fourth quarter. Impax Asset Management Group plc now owns 945,178 shares of the technology company’s stock worth $15,737,000 after purchasing an additional 90,000 shares in the last quarter. Finally, Abacus FCF Advisors LLC acquired a new stake in Extreme Networks during the fourth quarter worth approximately $6,439,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

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.