Extreme Networks (NASDAQ:EXTR) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $22.46 and traded as high as $23.08. Extreme Networks shares last traded at $22.70, with a volume of 1,324,188 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EXTR. Weiss Ratings raised shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 16th. Craig Hallum reiterated a “buy” rating and issued a $31.00 price target on shares of Extreme Networks in a report on Thursday, August 6th. B. Riley Financial raised their price objective on Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Oppenheimer restated an “outperform” rating on shares of Extreme Networks in a research note on Thursday, August 6th. Finally, Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Extreme Networks Stock Performance

The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 73.23, a PEG ratio of 1.45 and a beta of 1.76. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63. The company has a 50 day moving average of $22.46 and a 200 day moving average of $21.83.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $338.55 million during the quarter, compared to analysts’ expectations of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. As a group, equities research analysts expect that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 50,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $21.77, for a total transaction of $1,088,500.00. Following the transaction, the chief executive officer directly owned 1,710,097 shares in the company, valued at $37,228,811.69. This represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 21,825 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $22.30, for a total transaction of $486,697.50. Following the transaction, the chief financial officer directly owned 196,803 shares of the company’s stock, valued at approximately $4,388,706.90. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 121,825 shares of company stock valued at $3,064,698. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in shares of Extreme Networks during the second quarter worth about $25,000. Public Employees Retirement System of Ohio acquired a new position in Extreme Networks in the second quarter worth about $28,000. CoreCap Advisors LLC increased its holdings in Extreme Networks by 72.3% in the third quarter. CoreCap Advisors LLC now owns 1,201 shares of the technology company’s stock valued at $26,000 after buying an additional 504 shares during the last quarter. Nykredit A S bought a new stake in Extreme Networks in the second quarter valued at about $48,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Extreme Networks by 313.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after buying an additional 1,484 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Company Profile

Extreme Networks, Inc develops networking solutions that help organizations connect, manage and secure users, devices and applications across campus, data center and distributed environments. Its portfolio includes wired and wireless network infrastructure, Ethernet switches, access points, software-defined wide-area networking (SD-WAN), network access control and cloud-based network management.

The company’s ExtremeCloud platform supports centralized monitoring, configuration, analytics and automation for network operations.