Extreme Networks (NASDAQ:EXTR) Updates Q4 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) issued an update on its fourth quarter earnings guidance on Wednesday morning. 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 Down 1.9 %

Shares of EXTR traded down $0.22 during trading hours on Friday, reaching $11.20. The stock had a trading volume of 4,770,165 shares, compared to its average volume of 2,162,929. Extreme Networks has a 52 week low of $10.57 and a 52 week high of $32.73. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.74. The firm has a 50-day moving average of $11.52 and a 200 day moving average of $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 the consensus estimate of $0.16 by ($0.05). Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. The business had revenue of $296.38 million during the quarter, compared to the consensus estimate of $295.50 million. On average, equities analysts predict that Extreme Networks will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. TheStreet downgraded shares of Extreme Networks from a b- rating to a c+ rating in a report on Tuesday, February 20th. Needham & Company LLC reaffirmed a buy rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Wednesday. Rosenblatt Securities raised Extreme Networks from a neutral rating to a buy rating and lifted their price target for the company from $15.00 to $17.00 in a research note on Thursday. UBS Group downgraded Extreme Networks from a buy rating to a neutral rating and decreased their price objective for the stock from $22.00 to $14.00 in a report on Thursday, February 1st. Finally, StockNews.com cut Extreme Networks from a buy rating to a hold rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $20.50.

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.