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

Extreme Networks (NASDAQ:EXTR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.510-0.550 for the period, compared to the consensus 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 Stock Down 1.9 %

EXTR stock traded down $0.22 during 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 company has a quick ratio of 0.74, a current ratio of 0.96 and a debt-to-equity ratio of 2.78. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -160.00, a P/E/G ratio of 4.07 and a beta of 1.88. Extreme Networks has a one year low of $10.57 and a one year high of $32.73. The company’s 50 day moving average is $11.52 and its two-hundred day moving average is $14.80.

Extreme Networks (NASDAQ:EXTR) last released its 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). The business had revenue of $296.38 million during the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. Equities research analysts forecast that Extreme Networks will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EXTR. StockNews.com downgraded shares of Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. B. Riley increased their target price on shares of Extreme Networks from $14.00 to $15.00 and gave the company a buy rating in a research report on Thursday. UBS Group lowered shares of Extreme Networks from a buy rating to a neutral rating and decreased their price target for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. TheStreet downgraded Extreme Networks from a b- rating to a c+ rating in a research note on Tuesday, February 20th. Finally, Rosenblatt Securities raised Extreme Networks from a neutral rating to a buy rating and raised their target price for the stock from $15.00 to $17.00 in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus 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.