$241.78 Million in Sales Expected for Extreme Networks, Inc. (NASDAQ:EXTR) This Quarter

Wall Street brokerages expect that Extreme Networks, Inc. (NASDAQ:EXTR) will report $241.78 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Extreme Networks’ earnings, with estimates ranging from $240.00 million to $243.55 million. Extreme Networks posted sales of $267.47 million in the same quarter last year, which suggests a negative year-over-year growth rate of 9.6%. The firm is expected to issue its next quarterly earnings report before the market opens on Wednesday, January 27th.

According to Zacks, analysts expect that Extreme Networks will report full year sales of $954.58 million for the current fiscal year, with estimates ranging from $947.60 million to $961.56 million. For the next fiscal year, analysts forecast that the business will report sales of $986.89 million, with estimates ranging from $983.70 million to $990.07 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Extreme Networks.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, October 28th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The business had revenue of $235.80 million during the quarter, compared to the consensus estimate of $234.70 million. Extreme Networks had a negative net margin of 10.55% and a negative return on equity of 114.29%.

EXTR has been the subject of several recent analyst reports. B. Riley upped their price objective on shares of Extreme Networks from $9.00 to $9.50 in a report on Friday, October 9th. BidaskClub raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 8th. Finally, Zacks Investment Research raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a report on Tuesday, January 5th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $6.30.

NASDAQ EXTR opened at $7.82 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 33.85. The company has a fifty day simple moving average of $6.65 and a 200 day simple moving average of $4.99. The company has a market cap of $961.96 million, a P/E ratio of -9.54 and a beta of 2.11. Extreme Networks has a 1 year low of $1.43 and a 1 year high of $8.00.

In other news, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 30th. The shares were sold at an average price of $5.61, for a total transaction of $280,500.00. Following the completion of the transaction, the chief executive officer now directly owns 592,522 shares of the company’s stock, valued at approximately $3,324,048.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raj Khanna acquired 10,000 shares of Extreme Networks stock in a transaction dated Friday, November 6th. The shares were acquired at an average cost of $4.43 per share, with a total value of $44,300.00. Following the completion of the acquisition, the director now directly owns 179,883 shares in the company, valued at approximately $796,881.69. The disclosure for this purchase can be found here. Over the last three months, insiders sold 137,677 shares of company stock valued at $899,578. Insiders own 3.15% of the company’s stock.

Several large investors have recently added to or reduced their stakes in EXTR. RMB Capital Management LLC bought a new position in shares of Extreme Networks during the 3rd quarter worth about $41,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Extreme Networks during the 3rd quarter worth about $54,000. Bank of Montreal Can increased its position in shares of Extreme Networks by 801.7% during the 2nd quarter. Bank of Montreal Can now owns 15,058 shares of the technology company’s stock worth $61,000 after purchasing an additional 13,388 shares in the last quarter. Pillar Pacific Capital Management LLC acquired a new stake in shares of Extreme Networks during the 3rd quarter worth about $74,000. Finally, Keebeck Alpha LP acquired a new stake in shares of Extreme Networks during the 3rd quarter worth about $84,000. 73.03% of the stock is owned by institutional investors.

About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise, data center, and service provider customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops software for network management, policy, analytics, security, and access controls.

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