Extreme Networks (EXTR) Dips More Than Broader Markets: What You Should Know
Extreme Networks (EXTR) closed the most recent trading day at $27.06, moving -0.88% from the previous trading session. This change lagged the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the maker of network infrastructure equipment had gained 19.68% in the past month. In that same time, the Computer and Technology sector gained 3.63%, while the S&P 500 gained 5.14%.
Extreme Networks will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2023. The company is expected to report EPS of $0.31, up 106.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $344.85 million, up 23.96% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Extreme Networks. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Extreme Networks is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Extreme Networks currently has a Forward P/E ratio of 18.32. This represents a discount compared to its industry's average Forward P/E of 19.77.
The Computer - Networking industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Extreme Networks, Inc. (EXTR) : Free Stock Analysis Report
