We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Extreme Networks (EXTR) Stock Jumps 12.8%: Will It Continue to Soar?
Read MoreHide Full Article
Extreme Networks (EXTR - Free Report) shares rallied 12.8% in the last trading session to close at $10.43. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.5% gain over the past four weeks.
The increase in share price can be attributed to solid spending environment for enterprise networking and 5G infrastructure. This is driving demand for Extreme Networks’ products. For the fourth quarter of fiscal 2022, the company expects revenues in the range of $265-$275 million.
Extreme Networks recently launched a new set of solutions and also extended its ExtremeCloud portfolio to include new SD-WAN and AIOps with digital twin functionality. This will deliver secure connectivity at the edge of the network, accelerate cloud deployments and aid customers with actionable insights via a single platform. This will also simplify network management, augment security and boost application performance with a cost-effective subscription licensing model.
This maker of network infrastructure equipment is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of -21.1%. Revenues are expected to be $270.5 million, down 2.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Extreme Networks, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EXTR going forward to see if this recent jump can turn into more strength down the road.
Extreme Networks is a member of the Zacks Computer - Networking industry. One other stock in the same industry, Cisco Systems (CSCO - Free Report) , finished the last trading session 0.4% lower at $42.70. CSCO has returned -0.1% over the past month.
For Cisco, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.82. This represents a change of -2.4% from what the company reported a year ago. Cisco currently has a Zacks Rank of #5 (Strong Sell).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Extreme Networks (EXTR) Stock Jumps 12.8%: Will It Continue to Soar?
Extreme Networks (EXTR - Free Report) shares rallied 12.8% in the last trading session to close at $10.43. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.5% gain over the past four weeks.
The increase in share price can be attributed to solid spending environment for enterprise networking and 5G infrastructure. This is driving demand for Extreme Networks’ products. For the fourth quarter of fiscal 2022, the company expects revenues in the range of $265-$275 million.
Extreme Networks recently launched a new set of solutions and also extended its ExtremeCloud portfolio to include new SD-WAN and AIOps with digital twin functionality. This will deliver secure connectivity at the edge of the network, accelerate cloud deployments and aid customers with actionable insights via a single platform. This will also simplify network management, augment security and boost application performance with a cost-effective subscription licensing model.
This maker of network infrastructure equipment is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of -21.1%. Revenues are expected to be $270.5 million, down 2.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Extreme Networks, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EXTR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Extreme Networks is a member of the Zacks Computer - Networking industry. One other stock in the same industry, Cisco Systems (CSCO - Free Report) , finished the last trading session 0.4% lower at $42.70. CSCO has returned -0.1% over the past month.
For Cisco, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.82. This represents a change of -2.4% from what the company reported a year ago. Cisco currently has a Zacks Rank of #5 (Strong Sell).