Extreme Networks (NASDAQ:EXTR) Updates 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 Stock Down 1.9 %

Shares of EXTR traded down $0.22 during trading hours on Friday, hitting $11.20. The company had a trading volume of 4,770,165 shares, compared to its average volume of 2,162,929. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 2.78. The company has a market capitalization of $1.44 billion, a PE ratio of -160.00, a price-to-earnings-growth 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 fifty day moving average price is $11.52 and its two-hundred day moving average price is $14.80.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). The firm had revenue of $296.38 million for the quarter, compared to the consensus estimate 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, equities analysts forecast that Extreme Networks will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXTR. Needham & Company LLC restated a buy rating and set a $16.50 price target on shares of Extreme Networks in a research note on Wednesday. StockNews.com downgraded shares of Extreme Networks from a buy rating to a hold rating in a 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. Rosenblatt Securities upgraded shares of Extreme Networks from a neutral rating to a buy rating and increased their price objective for the stock from $15.00 to $17.00 in a research note on Thursday. Finally, UBS Group cut shares of Extreme Networks from a buy rating to a neutral rating and reduced their target price for the stock from $22.00 to $14.00 in a report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price 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.