Extreme Networks (NASDAQ:EXTR) Issues Q4 2024 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.110-0.150 for the period, compared to the consensus EPS estimate of 0.150. The company issued revenue guidance of $250.0 million-$260.0 million, compared to the consensus revenue estimate of $271.2 million. Extreme Networks also updated its FY 2024 guidance to 0.510-0.550 EPS.

Extreme Networks Stock Down 1.9 %

NASDAQ: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 stock has a market cap of $1.44 billion, a P/E ratio of -160.00, a PEG ratio of 4.07 and a beta of 1.88. The business’s 50 day moving average is $11.52 and its 200 day moving average is $14.80. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.74. Extreme Networks has a fifty-two week low of $10.57 and a fifty-two week high of $32.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results 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 business had revenue of $296.38 million for the quarter, compared to analyst estimates 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, sell-side analysts predict that Extreme Networks will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EXTR shares. TheStreet lowered Extreme Networks from a b- rating to a c+ rating in a report on Tuesday, February 20th. B. Riley raised their price objective on Extreme Networks from $14.00 to $15.00 and gave the company a buy rating in a research note on Thursday. Needham & Company LLC reaffirmed a buy rating and set a $16.50 target price on shares of Extreme Networks in a research report on Wednesday. Craig Hallum dropped their price target on shares of Extreme Networks from $15.00 to $13.00 and set a hold rating on the stock in a research report on Thursday. Finally, UBS Group lowered shares of Extreme Networks from a buy rating to a neutral rating and lowered their target price for the company from $22.00 to $14.00 in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target 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.