Extreme Networks (NASDAQ:EXTR) Issues Q4 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.11-0.15 for the period, compared to the consensus earnings per share estimate of $0.15. The company issued revenue guidance of $250-260 million, compared to the consensus revenue estimate of $271.08 million. Extreme Networks also updated its FY 2024 guidance to 0.510-0.550 EPS.

Extreme Networks Stock Performance

Extreme Networks stock opened at $11.20 on Friday. Extreme Networks has a fifty-two week low of $10.57 and a fifty-two week high of $32.73. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 2.78. The business’s 50-day simple moving average is $11.52 and its two-hundred day simple moving average is $14.80.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. As a group, sell-side analysts forecast that Extreme Networks will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Craig Hallum lowered their target price on shares of Extreme Networks from $15.00 to $13.00 and set a hold rating on the stock in a research note on Thursday. Rosenblatt Securities raised shares of Extreme Networks from a neutral rating to a buy rating and increased their price objective for the company from $15.00 to $17.00 in a report on Thursday. B. Riley lifted their target price on shares of Extreme Networks from $14.00 to $15.00 and gave the company a buy rating in a research report on Thursday. Needham & Company LLC restated a buy rating and set a $16.50 price target on shares of Extreme Networks in a research report on Wednesday. Finally, UBS Group cut Extreme Networks from a buy rating to a neutral rating and lowered their price objective for the stock from $22.00 to $14.00 in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $20.50.

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.