Wall Street analysts forecast that Extreme Networks, Inc. (NASDAQ:EXTR) will report earnings per share of $0.14 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Extreme Networks’ earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.13. Extreme Networks reported earnings per share of $0.07 in the same quarter last year, which would suggest a positive year-over-year growth rate of 100%. The business is scheduled to report its next earnings report after the market closes on Tuesday, November 7th.
On average, analysts expect that Extreme Networks will report full-year earnings of $0.65 per share for the current fiscal year, with EPS estimates ranging from $0.63 to $0.67. For the next fiscal year, analysts expect that the company will report earnings of $0.74 per share, with EPS estimates ranging from $0.65 to $0.83. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Extreme Networks.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Monday, August 14th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $178.70 million during the quarter, compared to analysts’ expectations of $171.96 million. Extreme Networks had a negative net margin of 1.42% and a positive return on equity of 41.17%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS.
A number of equities research analysts have weighed in on EXTR shares. Zacks Investment Research lowered Extreme Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub lowered Extreme Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Needham & Company LLC raised their price objective on Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, August 15th. Finally, ValuEngine upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $11.67.
In other news, Director Kathleen M. Holmgren bought 5,000 shares of Extreme Networks stock in a transaction on Wednesday, August 30th. The shares were bought at an average price of $11.49 per share, with a total value of $57,450.00. Following the acquisition, the director now directly owns 36,662 shares in the company, valued at approximately $421,246.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Meyercord sold 100,000 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $10.52, for a total value of $1,052,000.00. Following the transaction, the insider now directly owns 471,653 shares in the company, valued at approximately $4,961,789.56. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. bought a new position in Extreme Networks during the 2nd quarter worth approximately $101,000. FNY Partners Fund LP bought a new position in Extreme Networks during the 1st quarter worth approximately $112,000. BlueCrest Capital Management Ltd bought a new position in Extreme Networks during the 2nd quarter worth approximately $116,000. Ameritas Investment Partners Inc. lifted its holdings in Extreme Networks by 13.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock worth $124,000 after buying an additional 1,565 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Extreme Networks by 10.9% during the 2nd quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock worth $130,000 after buying an additional 1,378 shares during the last quarter. 79.62% of the stock is currently owned by institutional investors.
Shares of Extreme Networks (NASDAQ EXTR) opened at 11.67 on Friday. The company’s 50-day moving average price is $11.80 and its 200 day moving average price is $9.97. Extreme Networks has a 1-year low of $4.02 and a 1-year high of $13.20. The stock’s market cap is $1.32 billion.
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About Extreme Networks
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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