Extreme Networks (NASDAQ:EXTR) Issues Q4 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.11-0.15 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EXTR. UBS Group cut Extreme Networks from a buy rating to a neutral rating and reduced their price target for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. Rosenblatt Securities raised Extreme Networks from a neutral rating to a buy rating and upped their price target for the company from $15.00 to $17.00 in a report on Thursday. StockNews.com downgraded Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. Craig Hallum lowered their price target on Extreme Networks from $15.00 to $13.00 and set a hold rating on the stock in a report on Thursday. Finally, TheStreet downgraded Extreme Networks from a b- rating to a c+ rating in a report on Tuesday, February 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $20.50.

Extreme Networks Trading Down 1.9 %

Shares of EXTR opened at $11.20 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.74 and a current ratio of 0.96. The business has a 50-day simple moving average of $11.52 and a two-hundred day simple moving average of $14.80. Extreme Networks has a 52 week low of $10.57 and a 52 week high of $32.73.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 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 analysts’ expectations of $295.50 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. As a group, analysts predict that Extreme Networks will post 0.17 earnings per share for the current year.

Extreme Networks Company Profile

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.