Stock News in Focus: Extreme Networks, Inc (NASDAQ:EXTR)

Extreme Networks, Inc (NASDAQ:EXTR)  stock identified change of 40.08% away from 52-week low price and recently located move of -19.80% off 52-week high price. It has market worth of $835.56M. EXTR stock has been recorded -4.31% away from 50 day moving average and -3.01% away from 200 day moving average. Moving closer, we can see that shares have been trading -4.61% off 20-day moving average.

 On Oct. 30, 2019, Extreme Networks, Inc (NASDAQ:EXTR) revealed financial results for its fiscal first quarter ended September 30, 2019.

Fiscal First Quarter Results:

  • Revenue $255.5 million, up 7% year-over-year and up 1% quarter-over-quarter
  • GAAP EPS ($0.31), down ($0.23) year-over-year and down ($0.17) quarter-over-quarter
  • Non-GAAP EPS $0.08, flat year-over-year and up $0.02 quarter-over-quarter
  • GAAP gross margin 53.7% compared to 55.1%, in Q1 last year
  • Non-GAAP gross margin 59.9% compared to 58.0%, in Q1 last year
  • GAAP operating margin (12.6)% compared to (2.1)%, in Q1 last year
  • Non-GAAP operating margin 6.2%, compared to 5.8%, in Q1 last year
  • Net cash used in operating activities was ($0.2) million
  • Free Cash Flow of ($5.4) million

We reported revenue above the midpoint of our guidance, reflecting strength in the cloud-managed wireless LAN business we acquired from Aerohive Networks (Aerohive), along with a strong quarter of double-digit revenue growth in our edge switching portfolio. Our Non-GAAP gross margin rose once again on a year-over-year and sequential basis, towards the high-end of our guidance range, and on the verge of our 60 percent FY20 target, stated Ed Meyercord, President and CEO of Extreme Networks.  

 The Technology sector company, Extreme Networks noticed change of -9.05% to $6.89 along volume of 3988131 shares in recent session compared to an average volume of 1082.21K. The stock observed return of -4.11% in 5 days trading activity. The stock was at -0.51%over one month performance. EXTR’s shares are at -17.74% for the quarter and driving a 38.81% return over the course of the past year and is now at 12.87% since this point in 2018.  The average volatility for the week at 6.31% and for month was at 4.09%. There are 121.36M shares outstanding and 119.04M shares are floated in market. Right now the stock beta is 1.68.

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