Equities research analysts expect that Extreme Networks, Inc. (NASDAQ:EXTR) will announce earnings per share (EPS) of $0.14 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Extreme Networks’ earnings, with estimates ranging from $0.13 to $0.15. Extreme Networks posted earnings of $0.07 per share during the same quarter last year, which suggests a positive year over year growth rate of 100%. The firm is expected to announce its next earnings results after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Extreme Networks will report full year earnings of $0.65 per share for the current financial year, with EPS estimates ranging from $0.63 to $0.67. For the next financial year, analysts expect that the business will report earnings of $0.74 per share, with EPS estimates ranging from $0.65 to $0.83. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Extreme Networks.
Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Extreme Networks had a positive return on equity of 41.17% and a negative net margin of 1.42%. The business had revenue of $178.70 million during the quarter, compared to analysts’ expectations of $171.96 million. During the same period last year, the firm posted $0.10 EPS. Extreme Networks’s quarterly revenue was up 28.0% compared to the same quarter last year.
Several equities research analysts have weighed in on EXTR shares. Zacks Investment Research downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Needham & Company LLC raised their price target on Extreme Networks from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. Finally, ValuEngine raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $11.67.
Shares of Extreme Networks (NASDAQ EXTR) traded down 0.17% during trading on Friday, reaching $12.01. The company’s stock had a trading volume of 757,119 shares. Extreme Networks has a 12-month low of $4.02 and a 12-month high of $13.20. The firm’s 50-day moving average is $11.83 and its 200-day moving average is $10.02. The stock’s market capitalization is $1.36 billion.
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In other news, Director Kathleen M. Holmgren acquired 5,000 shares of Extreme Networks stock in a transaction dated Wednesday, August 30th. The stock was purchased at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the purchase, the director now directly owns 36,662 shares in the company, valued at approximately $421,246.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 471,653 shares of the company’s stock, valued at $4,961,789.56. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Capital Advantage Inc. raised its stake in shares of Extreme Networks by 15.8% in the third quarter. Capital Advantage Inc. now owns 36,662 shares of the technology company’s stock worth $436,000 after purchasing an additional 5,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Extreme Networks by 116.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 158,012 shares of the technology company’s stock worth $1,879,000 after purchasing an additional 85,076 shares during the last quarter. First Quadrant L P CA raised its stake in shares of Extreme Networks by 22,552.8% in the third quarter. First Quadrant L P CA now owns 510,141 shares of the technology company’s stock worth $6,066,000 after purchasing an additional 507,889 shares during the last quarter. Howe & Rusling Inc. raised its stake in shares of Extreme Networks by 2,623.5% in the third quarter. Howe & Rusling Inc. now owns 11,357 shares of the technology company’s stock worth $135,000 after purchasing an additional 10,940 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Extreme Networks in the second quarter worth about $397,000. Hedge funds and other institutional investors own 79.56% of the company’s stock.
Extreme Networks Company Profile
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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