Extreme Networks (NASDAQ:EXTR) Issues FY 2024 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.510-0.550 for the period, compared to the consensus EPS estimate of 0.560. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Extreme Networks also updated its FY24 guidance to $0.51-0.55 EPS.

Extreme Networks Price Performance

Shares of EXTR traded down $0.22 during mid-day trading 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. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -160.00, a PEG ratio of 4.07 and a beta of 1.88. Extreme Networks has a 12 month low of $10.57 and a 12 month high of $32.73. The business has a fifty day moving average of $11.52 and a 200 day moving average of $14.80. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.74 and a current ratio of 0.96.

Extreme Networks (NASDAQ:EXTR) last issued 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). 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 analysts’ expectations of $295.50 million. Equities analysts predict that Extreme Networks will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on EXTR. Needham & Company LLC reissued a buy rating and issued a $16.50 price target on shares of Extreme Networks in a report on Wednesday. StockNews.com lowered shares of Extreme Networks from a buy rating to a hold rating in a research report on Thursday, February 1st. TheStreet cut shares of Extreme Networks from a b- rating to a c+ rating in a research note on Tuesday, February 20th. B. Riley boosted their price target on shares of Extreme Networks from $14.00 to $15.00 and gave the stock a buy rating in a research note on Thursday. Finally, Craig Hallum cut their price objective on Extreme Networks from $15.00 to $13.00 and set a hold rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target 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.