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

Extreme Networks (NASDAQ:EXTR) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.110-0.150 for the period, compared to the consensus earnings per share 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 Price Performance

NASDAQ EXTR traded down $0.22 during trading hours on Friday, hitting $11.20. 4,770,165 shares of the company’s stock traded hands, compared to its average volume of 2,162,929. Extreme Networks has a 52-week low of $10.57 and a 52-week high of $32.73. The company has a market capitalization of $1.44 billion, a PE ratio of -160.00, a PEG ratio of 4.07 and a beta of 1.88. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.74. The firm’s 50-day moving average is $11.52 and its 200-day moving average is $14.80.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. The firm had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. Equities analysts forecast that Extreme Networks will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group downgraded shares of Extreme Networks from a buy rating to a neutral rating and cut their target price for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. StockNews.com cut shares of Extreme Networks from a buy rating to a hold rating in a research note on Thursday, February 1st. B. Riley raised their target price on shares of Extreme Networks from $14.00 to $15.00 and gave the stock a buy rating in a research note on Thursday. Craig Hallum reduced their price objective on shares of Extreme Networks from $15.00 to $13.00 and set a hold rating for the company in a research note on Thursday. Finally, TheStreet downgraded shares of Extreme Networks from a b- rating to a c+ rating in a report on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average 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.