Extreme Networks (NASDAQ:EXTR) Updates Q2 Earnings Guidance

Extreme Networks (NASDAQ:EXTR - Get Free Report) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.16-0.20 for the period, compared to the consensus earnings per share estimate of $0.18. The company issued revenue guidance of $273-283 million, compared to the consensus revenue estimate of $277.91 million. Extreme Networks also updated its FY 2025 guidance to EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EXTR shares. Craig Hallum increased their price objective on shares of Extreme Networks from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Needham & Company LLC restated a "buy" rating and set a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $15.90.

Extreme Networks Price Performance

NASDAQ:EXTR traded up $1.72 during mid-day trading on Wednesday, reaching $15.94. The stock had a trading volume of 3,872,404 shares, compared to its average volume of 1,867,461. Extreme Networks has a one year low of $10.49 and a one year high of $20.83. The stock has a market capitalization of $2.07 billion, a P/E ratio of -232.86, a P/E/G ratio of 3.37 and a beta of 1.76. The firm has a 50 day moving average price of $14.86 and a two-hundred day moving average price of $13.26. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.63 and a current ratio of 0.90.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The firm had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The company's quarterly revenue was down 29.5% compared to the same quarter last year. As a group, analysts expect that Extreme Networks will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company's stock, valued at $21,363,575.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.32% of the stock is currently owned by company insiders.

About Extreme Networks

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.