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Extreme Networks, Inc. (EXTR) provides software-driven networking solutions worldwide. 
It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops software for network management, policy, analytics, security, and access controls.
The company offers ExtremeCloud IQ, an ML/AI powered, wired, and wireless cloud network management solution that offers advanced visibility and control over users, devices, and applications; ExtremeCloud IQ Site Engine that provides task automation, access control, granular visibility with real-time analytics and multi-vendor device management; and ExtremeCloud IQ Essentials offers WIPS, location services, IoT, and guest management services.
It also provides wireless access point products; ExtremeSwitching portfolio that includes access edge products that offer physical presentations along with options to deliver Ethernet or convergence-friendly Power-over-Ethernet (POE), including high-power universal POE; ExtremeCloud SD-WAN, a software-defined wide area networks solution offers an all-inclusive subscription, which includes hardware, the cloud-based SD-WAN service, support and maintenance, and customer success support; aggregation/core switches designed to address aggregation, top-of-rack, and campus core environments; and data center switches and routers.
On October 27th, EXTR reported 1st Quarter September 2022 earnings of $0.11 per share on revenue of $297.7 million. The consensus earnings estimate was $0.10 per share on revenue of $283.3 million. Revenue grew 11.2% on a year-over-year basis.
The company said it expects second quarter non-GAAP earnings of $0.21 to $0.26 per share on revenue of $299.0 million to $309.0 million. The prior consensus earnings estimate was $0.23 per share on revenue of $300.84 million for the quarter ending December 31, 2022. Shares have formed a bullish "cup and handle" and higher share prices are expected.
Entry Point: $20.40
Trading Range: $8.49 to $21.03
Stop Loss: $19.30
Target Price: $22.45
