Extreme Networks (EXTR) Stock Moves -0.65%: What You Should Know
In the latest trading session, Extreme Networks (EXTR) closed at $27.49, marking a -0.65% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.68%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, lost 3.19%.
Heading into today, shares of the maker of network infrastructure equipment had gained 14.77% over the past month, outpacing the Computer and Technology sector's gain of 3.15% and the S&P 500's gain of 3.58% in that time.
Extreme Networks will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2023. In that report, analysts expect Extreme Networks to post earnings of $0.31 per share. This would mark year-over-year growth of 106.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $344.85 million, up 23.96% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Extreme Networks. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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).
In terms of valuation, Extreme Networks is currently trading at a Forward P/E ratio of 18.57. This represents a discount compared to its industry's average Forward P/E of 19.86.
The Computer - Networking industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Extreme Networks, Inc. (EXTR) : Free Stock Analysis Report
