The stock price of Extreme Networks Inc. (NASDAQ: EXTR) has surged by 3.69 when compared to previous closing price of 11.10, but the company has seen a 2.86% gain in its stock price over the last five trading sessions. Business Wire reported 2024-04-08 that MORRISVILLE, N.C.–(BUSINESS WIRE)–Extreme Networks, Inc. (Nasdaq: EXTR), a leader in cloud networking, today announced plans to release financial results for its third fiscal quarter, ended March 31, 2024. The company will announce before market open on Wednesday, May 1, 2024, followed by an earnings conference call and webcast at 8:00 a.m. ET. The details for the webcast are: When: Wednesday, May 1, 2024 at 8:00 a.m. ET (5:00 a.m. PT) Where: http://investor.extremenetworks.com/ Dial in: To a.
Is It Worth Investing in Extreme Networks Inc. (NASDAQ: EXTR) Right Now?
The price-to-earnings ratio for Extreme Networks Inc. (NASDAQ: EXTR) is above average at 19.09x. The 36-month beta value for EXTR is also noteworthy at 1.90. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 1 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
The public float for EXTR is 125.18M, and at present, short sellers hold a 9.06% of that float. The average trading volume of EXTR on April 10, 2024 was 2.14M shares.
EXTR’s Market Performance
The stock of Extreme Networks Inc. (EXTR) has seen a 2.86% increase in the past week, with a -2.87% drop in the past month, and a -34.30% fall in the past quarter. The volatility ratio for the week is 3.57%, and the volatility levels for the past 30 days are at 2.76% for EXTR. The simple moving average for the past 20 days is 0.45% for EXTR’s stock, with a -41.92% simple moving average for the past 200 days.
Analysts’ Opinion of EXTR
Many brokerage firms have already submitted their reports for EXTR stocks, with UBS repeating the rating for EXTR by listing it as a “Neutral.” The predicted price for EXTR in the upcoming period, according to UBS is $14 based on the research report published on February 01, 2024 of the current year 2024.
Rosenblatt, on the other hand, stated in their research note that they expect to see EXTR reach a price target of $15, previously predicting the price at $19. The rating they have provided for EXTR stocks is “Neutral” according to the report published on February 01st, 2024.
EXTR Trading at -6.24% from the 50-Day Moving Average
After a stumble in the market that brought EXTR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -64.83% of loss for the given period.
Volatility was left at 2.76%, however, over the last 30 days, the volatility rate increased by 3.57%, as shares sank -3.36% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -32.49% lower at present.
During the last 5 trading sessions, EXTR rose by +2.86%, which changed the moving average for the period of 200-days by -52.52% in comparison to the 20-day moving average, which settled at $11.44. In addition, Extreme Networks Inc. saw -34.75% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at EXTR starting from MEYERCORD EDWARD, who sale 28,443 shares at the price of $13.24 back on Feb 01 ’24. After this action, MEYERCORD EDWARD now owns 1,129,611 shares of Extreme Networks Inc., valued at $376,602 using the latest closing price.
MEYERCORD EDWARD, the PRESIDENT AND CEO of Extreme Networks Inc., sale 28,443 shares at $16.32 during a trade that took place back on Dec 01 ’23, which means that MEYERCORD EDWARD is holding 1,129,611 shares at $464,164 based on the most recent closing price.
Stock Fundamentals for EXTR
Current profitability levels for the company are sitting at:
- 0.08 for the present operating margin
- 0.6 for the gross margin
The net margin for Extreme Networks Inc. stands at 0.06. The total capital return value is set at 0.19. Equity return is now at value 83.24, with 7.28 for asset returns.
Based on Extreme Networks Inc. (EXTR), the company’s capital structure generated 0.7 points at debt to capital in total, while cash flow to debt ratio is standing at 0.97. The debt to equity ratio resting at 2.28. The interest coverage ratio of the stock is 6.23.
Currently, EBITDA for the company is 149.62 million with net debt to EBITDA at 0.16. When we switch over and look at the enterprise to sales, we see a ratio of 1.12. The receivables turnover for the company is 12.01for trailing twelve months and the total asset turnover is 1.18. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.02.
Conclusion
In summary, Extreme Networks Inc. (EXTR) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
