Keep Your Eyes on Stock News: Extreme Networks (NASDAQ:EXTR)

Extreme Networks (NASDAQ:EXTR) stock identified change of 187.41% away from 52-week low price and recently located move of -48.62% off 52-week high price. It has market worth of $504.30M. EXTR stock has been recorded -5.27% away from 50 day moving average and -9.59% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.54% off 20-day moving average.

On Oct. 8, 2020, Extreme Networks (NASDAQ:EXTR) declared a business update on the financial results for its first quarter ended September 30, 2020, and a partial repayment of its revolving credit facility. The company will review the updates in full detail on its first fiscal quarter earnings results call, set for October 28, 2020.

Q1 2021 Earnings Outlook Update

Based on better-than-expected preliminary results across our geographies and major market segments, Extreme now expects to report first quarter 2021 revenue of $233 to $236 million, up 9% sequentially at the midpoint from $215.5 million last quarter. As a result, we now expect a GAAP loss per share of ($0.11) to ($0.08), and a non-GAAP EPS of $0.05 to $0.08. This compares to initial first quarter guidance for revenue of $220 to $230 million, GAAP loss per share of ($0.14) to ($0.11) and Non-GAAP EPS of $0.01 to $0.04. We expect GAAP and Non-GAAP Gross Margin to be slightly better than original guidance, while we expect GAAP and Non-GAAP Operating Expenses to be in-line with Extreme’s prior guidance.

Repaid $20 Million of the $55 Million Revolving Credit Facility

As a result of preliminary financial results in Q1, on September 29, 2020, Extreme repaid $20 million of the $55 million previously drawn from its revolving credit facility on March 24, 2020. Extreme also maintains a $361 million Term Loan A that matures in 2024, along with the remaining revolver balance of $35 million; cash and cash equivalents at the end of the quarter were $193 million, and net debt was $203 million.

The Technology sector company, Extreme Networks noticed change of 0.98% to $4.11 along volume of 518023 shares in recent session compared to an average volume of 1.06M shares. The stock observed return of 2.62% in 5 days trading activity. The stock was at 5.66% over one month performance. EXTR’s shares are at 1.11% for the quarter and driving a -42.44% return over the course of the past year and is now at -44.23% since this point in 2018.

The average volatility for the week at 3.48% and for month was at 4.38%. There are 120.31M shares outstanding and 119.86M shares are floated in market. Right now the stock beta is 1.96.