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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.
In addition, the company offers cloud native platforms and applications for service providers; and customer support and services. It markets and sells its products through distributors, resellers, and field sales organizations to healthcare, education, government, manufacturing, retail, and hospitality markets.
Shares have formed a bullish "cup and handle" following it's latest quarterly report. Hhigher share prices are expected. On August 2nd, EXTR reported earnings of $0.34 per share on revenue of $363.91 million for the fiscal fourth quarter ended June 2023. The consensus earnings estimate was $0.31 per share on revenue of $343.53 million. Revenue grew 30.81% on a year-over-year basis.
The company said it expects first quarter non-GAAP earnings of $0.28 to $0.33 per share on revenue of $342.0 million to $352.0 million. The current consensus earnings estimate is $0.31 per share on revenue of $341.91 million for the quarter ending September 30, 2023.
Entry Point: $29.00
Stop Loss: $27.00
Trading Range: $12.09 - $30.65
Target Price: $32.00
