Extreme Networks (NASDAQ:EXTR – Get Free Report) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.11-0.15 for the period, compared to the consensus earnings per share estimate of $0.15. The company issued revenue guidance of $250-260 million, compared to the consensus revenue estimate of $271.08 million. Extreme Networks also updated its FY 2024 guidance to 0.510-0.550 EPS.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on EXTR. Needham & Company LLC reiterated a buy rating and issued a $16.50 price objective on shares of Extreme Networks in a research report on Wednesday. B. Riley increased 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. Rosenblatt Securities raised shares of Extreme Networks from a neutral rating to a buy rating and increased their price objective for the stock from $15.00 to $17.00 in a research report on Thursday. UBS Group lowered Extreme Networks from a buy rating to a neutral rating and cut their target price for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. Finally, StockNews.com cut Extreme Networks from a buy rating to a hold rating in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Extreme Networks currently has a consensus rating of Hold and an average target price of $20.50.
Read Our Latest Report on Extreme Networks
Extreme Networks Price Performance
Extreme Networks (NASDAQ:EXTR – Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The firm had revenue of $296.38 million for the quarter, compared to analysts’ expectations of $295.50 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. On average, equities analysts forecast that Extreme Networks will post 0.17 earnings per share for the current fiscal year.
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.
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