Extreme Networks (NASDAQ:EXTR) Hits New 52-Week High – Time to Buy?

Extreme Networks, Inc. (NASDAQ:EXTR) shares reached a new 52-week high during trading on Monday . The company traded as high as $31.68 and last traded at $31.4550, with a volume of 1518 shares traded. The stock had previously closed at $31.11.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group set a $28.00 price objective on Extreme Networks in a report on Thursday, April 30th. Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 24th. B. Riley Financial restated a “buy” rating on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Rosenblatt Securities lifted their price objective on shares of Extreme Networks from $29.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and a consensus price target of $29.33.

Extreme Networks Price Performance

The company has a market cap of $4.13 billion, a price-to-earnings ratio of 263.92, a P/E/G ratio of 2.94 and a beta of 1.81. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The business has a 50-day moving average price of $22.58 and a 200 day moving average price of $18.07.

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

Insider Buying and Selling

In other Extreme Networks news, insider Katayoun Motiey sold 30,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $31.03, for a total value of $930,900.00. Following the completion of the transaction, the insider directly owned 120,834 shares in the company, valued at $3,749,479.02. This trade represents a 19.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the completion of the transaction, the chief financial officer directly owned 151,296 shares in the company, valued at approximately $4,603,937.28. This trade represents a 18.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 642,182 shares of company stock worth $16,188,978. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Several hedge funds have recently made changes to their positions in EXTR. Alyeska Investment Group L.P. grew its position in Extreme Networks by 301.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock worth $49,479,000 after purchasing an additional 2,232,373 shares in the last quarter. Jain Global LLC purchased a new stake in shares of Extreme Networks in the fourth quarter valued at $17,361,000. SEB Asset Management AB acquired a new stake in shares of Extreme Networks in the first quarter worth $12,192,000. Millennium Management LLC boosted its position in shares of Extreme Networks by 163.0% in the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after buying an additional 781,103 shares during the period. Finally, Glenmede Trust Co. NA purchased a new position in shares of Extreme Networks during the first quarter valued at $10,129,000. Hedge funds and other 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.