Extreme Networks (NASDAQ:EXTR) Issues Q3 Earnings Guidance

Extreme Networks (NASDAQ:EXTR) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.11-$0.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.18. The company issued revenue guidance of $255-$265 million, compared to the consensus revenue estimate of $275.27 million.Extreme Networks also updated its Q3 2020
Pre-Market guidance to 0.11-0.15 EPS.

Shares of NASDAQ:EXTR traded down $0.25 during midday trading on Friday, reaching $5.86. The company’s stock had a trading volume of 152,542 shares, compared to its average volume of 1,362,481. Extreme Networks has a fifty-two week low of $5.37 and a fifty-two week high of $8.59. The company has a debt-to-equity ratio of 8.00, a current ratio of 0.99 and a quick ratio of 0.86. The company has a market capitalization of $742.79 million, a P/E ratio of -8.26 and a beta of 1.67. The business’s fifty day simple moving average is $7.40 and its 200-day simple moving average is $7.21.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.13 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.13. Extreme Networks had a positive return on equity of 6.55% and a negative net margin of 8.31%. The business had revenue of $267.50 million for the quarter, compared to analyst estimates of $273.18 million. During the same quarter last year, the firm earned $0.13 EPS. Extreme Networks’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, analysts forecast that Extreme Networks will post 0.36 earnings per share for the current fiscal year.

EXTR has been the subject of a number of analyst reports. ValuEngine raised shares of Extreme Networks from a hold rating to a buy rating in a report on Friday. Zacks Investment Research downgraded shares of Extreme Networks from a buy rating to a hold rating in a report on Thursday. Finally, BidaskClub downgraded shares of Extreme Networks from a buy rating to a hold rating in a report on Friday.

Extreme Networks Company Profile

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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