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

Extreme Networks (NASDAQ:EXTR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.510-0.550 for the period, compared to the consensus earnings per share 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 Trading Down 1.9 %

Shares of NASDAQ EXTR traded down $0.22 during trading on Friday, hitting $11.20. 4,770,165 shares of the company were exchanged, compared to its average volume of 2,162,929. The company has a fifty day moving average price of $11.52 and a 200-day moving average price of $14.80. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.74 and a current ratio of 0.96. The firm has a market capitalization of $1.44 billion, a PE ratio of -160.00, a P/E/G ratio of 4.07 and a beta of 1.88. Extreme Networks has a 12-month low of $10.57 and a 12-month high of $32.73.

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. As a group, equities research analysts expect that Extreme Networks will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EXTR. B. Riley upped their price objective on Extreme Networks from $14.00 to $15.00 and gave the company a buy rating in a report on Thursday. Rosenblatt Securities upgraded Extreme Networks from a neutral rating to a buy rating and increased their price target for the stock from $15.00 to $17.00 in a report on Thursday. StockNews.com lowered shares of Extreme Networks from a buy rating to a hold rating in a report on Thursday, February 1st. UBS Group cut shares of Extreme Networks from a buy rating to a neutral rating and decreased their target price for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. Finally, Needham & Company LLC reiterated a buy rating and set a $16.50 price target on shares of Extreme Networks in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Extreme Networks has an average rating of Hold and a consensus price target 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.