Intrinsic value of Extreme Networks - EXTR

Previous Close

$11.76

  Intrinsic Value

$626.92

stock screener

  Rating & Target

str. buy

+999%

Previous close

$11.76

 
Intrinsic value

$626.92

 
Up/down potential

+999%

 
Rating

str. buy

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of EXTR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

Please visit our new site that uses elements of artificial intelligence for stock valuation: artificial intelligence value of Extreme Networks (EXTR) stock.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  13.26
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  598
  957
  1,478
  2,211
  3,208
  4,526
  6,222
  8,351
  10,966
  14,110
  17,822
  22,131
  27,057
  32,613
  38,803
  45,626
  53,074
  61,137
  69,801
  79,054
  88,880
  99,267
  110,204
  121,683
  133,699
  146,249
  159,336
  172,965
  187,145
  201,890
  217,214
Variable operating expenses, $m
 
  609
  937
  1,398
  2,024
  2,853
  3,919
  5,258
  6,901
  8,878
  11,211
  13,912
  17,009
  20,501
  24,393
  28,681
  33,363
  38,432
  43,879
  49,695
  55,872
  62,401
  69,277
  76,493
  84,046
  91,936
  100,162
  108,730
  117,644
  126,912
  136,546
Fixed operating expenses, $m
 
  226
  231
  237
  243
  249
  255
  262
  268
  275
  282
  289
  296
  303
  311
  319
  327
  335
  343
  352
  360
  370
  379
  388
  398
  408
  418
  429
  439
  450
  461
Total operating expenses, $m
  599
  835
  1,168
  1,635
  2,267
  3,102
  4,174
  5,520
  7,169
  9,153
  11,493
  14,201
  17,305
  20,804
  24,704
  29,000
  33,690
  38,767
  44,222
  50,047
  56,232
  62,771
  69,656
  76,881
  84,444
  92,344
  100,580
  109,159
  118,083
  127,362
  137,007
Operating income, $m
  -1
  122
  310
  576
  940
  1,424
  2,047
  2,832
  3,796
  4,957
  6,329
  7,930
  9,753
  11,809
  14,100
  16,626
  19,384
  22,370
  25,580
  29,007
  32,647
  36,496
  40,549
  44,802
  49,255
  53,906
  58,756
  63,807
  69,062
  74,527
  80,207
EBITDA, $m
  26
  147
  344
  623
  1,005
  1,511
  2,165
  2,987
  3,997
  5,214
  6,651
  8,320
  10,229
  12,383
  14,783
  17,429
  20,318
  23,446
  26,808
  30,398
  34,212
  38,243
  42,488
  46,944
  51,608
  56,480
  61,560
  66,851
  72,356
  78,080
  84,030
Interest expense (income), $m
  3
  3
  10
  20
  35
  55
  82
  117
  160
  213
  277
  353
  441
  541
  654
  780
  919
  1,071
  1,235
  1,412
  1,600
  1,800
  2,012
  2,234
  2,468
  2,713
  2,968
  3,235
  3,512
  3,801
  4,101
Earnings before tax, $m
  -4
  119
  300
  556
  905
  1,368
  1,965
  2,715
  3,636
  4,744
  6,052
  7,577
  9,312
  11,267
  13,446
  15,846
  18,465
  21,299
  24,344
  27,595
  31,047
  34,696
  38,537
  42,568
  46,787
  51,193
  55,788
  60,572
  65,550
  70,726
  76,106
Tax expense, $m
  5
  32
  81
  150
  244
  369
  531
  733
  982
  1,281
  1,634
  2,046
  2,514
  3,042
  3,630
  4,278
  4,985
  5,751
  6,573
  7,451
  8,383
  9,368
  10,405
  11,493
  12,632
  13,822
  15,063
  16,354
  17,699
  19,096
  20,549
Net income, $m
  -9
  87
  219
  406
  661
  999
  1,435
  1,982
  2,654
  3,463
  4,418
  5,531
  6,798
  8,225
  9,815
  11,567
  13,479
  15,548
  17,771
  20,145
  22,665
  25,328
  28,132
  31,075
  34,154
  37,371
  40,725
  44,218
  47,852
  51,630
  55,557

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  130
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  460
  528
  816
  1,220
  1,770
  2,498
  3,434
  4,609
  6,052
  7,787
  9,836
  12,214
  14,932
  17,999
  21,415
  25,180
  29,290
  33,740
  38,522
  43,628
  49,051
  54,783
  60,819
  67,154
  73,785
  80,712
  87,934
  95,455
  103,281
  111,418
  119,875
Adjusted assets (=assets-cash), $m
  330
  528
  816
  1,220
  1,770
  2,498
  3,434
  4,609
  6,052
  7,787
  9,836
  12,214
  14,932
  17,999
  21,415
  25,180
  29,290
  33,740
  38,522
  43,628
  49,051
  54,783
  60,819
  67,154
  73,785
  80,712
  87,934
  95,455
  103,281
  111,418
  119,875
Revenue / Adjusted assets
  1.812
  1.813
  1.811
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
  1.812
Average production assets, $m
  53
  84
  130
  195
  282
  398
  547
  735
  965
  1,242
  1,568
  1,948
  2,381
  2,870
  3,415
  4,015
  4,671
  5,380
  6,143
  6,957
  7,821
  8,735
  9,698
  10,708
  11,765
  12,870
  14,022
  15,221
  16,469
  17,766
  19,115
Working capital, $m
  86
  -52
  -80
  -119
  -173
  -244
  -336
  -451
  -592
  -762
  -962
  -1,195
  -1,461
  -1,761
  -2,095
  -2,464
  -2,866
  -3,301
  -3,769
  -4,269
  -4,799
  -5,360
  -5,951
  -6,571
  -7,220
  -7,897
  -8,604
  -9,340
  -10,106
  -10,902
  -11,730
Total debt, $m
  93
  234
  493
  857
  1,352
  2,007
  2,849
  3,907
  5,206
  6,767
  8,611
  10,751
  13,198
  15,958
  19,032
  22,421
  26,120
  30,125
  34,428
  39,024
  43,905
  49,064
  54,496
  60,198
  66,166
  72,399
  78,900
  85,669
  92,712
  100,035
  107,647
Total liabilities, $m
  334
  475
  734
  1,098
  1,593
  2,248
  3,090
  4,148
  5,447
  7,008
  8,852
  10,992
  13,439
  16,199
  19,273
  22,662
  26,361
  30,366
  34,669
  39,265
  44,146
  49,305
  54,737
  60,439
  66,407
  72,640
  79,141
  85,910
  92,953
  100,276
  107,888
Total equity, $m
  126
  53
  82
  122
  177
  250
  343
  461
  605
  779
  984
  1,221
  1,493
  1,800
  2,141
  2,518
  2,929
  3,374
  3,852
  4,363
  4,905
  5,478
  6,082
  6,715
  7,379
  8,071
  8,793
  9,546
  10,328
  11,142
  11,988
Total liabilities and equity, $m
  460
  528
  816
  1,220
  1,770
  2,498
  3,433
  4,609
  6,052
  7,787
  9,836
  12,213
  14,932
  17,999
  21,414
  25,180
  29,290
  33,740
  38,521
  43,628
  49,051
  54,783
  60,819
  67,154
  73,786
  80,711
  87,934
  95,456
  103,281
  111,418
  119,876
Debt-to-equity ratio
  0.738
  4.440
  6.050
  7.020
  7.640
  8.040
  8.300
  8.480
  8.600
  8.690
  8.750
  8.800
  8.840
  8.870
  8.890
  8.900
  8.920
  8.930
  8.940
  8.940
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
Adjusted equity ratio
  -0.012
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -9
  87
  219
  406
  661
  999
  1,435
  1,982
  2,654
  3,463
  4,418
  5,531
  6,798
  8,225
  9,815
  11,567
  13,479
  15,548
  17,771
  20,145
  22,665
  25,328
  28,132
  31,075
  34,154
  37,371
  40,725
  44,218
  47,852
  51,630
  55,557
Depreciation, amort., depletion, $m
  27
  25
  34
  47
  64
  88
  117
  155
  201
  256
  322
  390
  476
  574
  683
  803
  934
  1,076
  1,229
  1,391
  1,564
  1,747
  1,940
  2,142
  2,353
  2,574
  2,804
  3,044
  3,294
  3,553
  3,823
Funds from operations, $m
  83
  111
  253
  453
  725
  1,087
  1,552
  2,137
  2,855
  3,719
  4,739
  5,921
  7,274
  8,799
  10,498
  12,370
  14,413
  16,624
  19,000
  21,536
  24,229
  27,075
  30,072
  33,216
  36,507
  39,945
  43,529
  47,262
  51,145
  55,183
  59,380
Change in working capital, $m
  24
  -19
  -28
  -40
  -54
  -71
  -92
  -115
  -141
  -170
  -200
  -233
  -266
  -300
  -334
  -368
  -402
  -435
  -468
  -500
  -531
  -561
  -591
  -620
  -649
  -678
  -707
  -736
  -766
  -796
  -828
Cash from operations, $m
  59
  131
  281
  492
  779
  1,158
  1,644
  2,252
  2,997
  3,889
  4,940
  6,154
  7,540
  9,099
  10,832
  12,739
  14,815
  17,060
  19,468
  22,036
  24,760
  27,636
  30,662
  33,836
  37,156
  40,623
  44,236
  47,998
  51,911
  55,979
  60,208
Maintenance CAPEX, $m
  0
  -11
  -17
  -26
  -39
  -56
  -80
  -109
  -147
  -193
  -248
  -314
  -390
  -476
  -574
  -683
  -803
  -934
  -1,076
  -1,229
  -1,391
  -1,564
  -1,747
  -1,940
  -2,142
  -2,353
  -2,574
  -2,804
  -3,044
  -3,294
  -3,553
New CAPEX, $m
  -10
  -32
  -46
  -64
  -88
  -116
  -149
  -187
  -230
  -277
  -327
  -379
  -434
  -489
  -545
  -600
  -655
  -710
  -762
  -814
  -865
  -914
  -962
  -1,010
  -1,057
  -1,104
  -1,152
  -1,199
  -1,248
  -1,297
  -1,349
Cash from investing activities, $m
  -72
  -43
  -63
  -90
  -127
  -172
  -229
  -296
  -377
  -470
  -575
  -693
  -824
  -965
  -1,119
  -1,283
  -1,458
  -1,644
  -1,838
  -2,043
  -2,256
  -2,478
  -2,709
  -2,950
  -3,199
  -3,457
  -3,726
  -4,003
  -4,292
  -4,591
  -4,902
Free cash flow, $m
  -13
  89
  219
  402
  653
  985
  1,415
  1,955
  2,620
  3,420
  4,365
  5,461
  6,717
  8,134
  9,714
  11,455
  13,357
  15,416
  17,629
  19,993
  22,503
  25,158
  27,953
  30,886
  33,957
  37,165
  40,510
  43,994
  47,619
  51,388
  55,306
Issuance/(repayment) of debt, $m
  38
  153
  259
  364
  495
  655
  842
  1,058
  1,299
  1,562
  1,844
  2,140
  2,447
  2,760
  3,075
  3,389
  3,699
  4,005
  4,304
  4,596
  4,881
  5,159
  5,432
  5,702
  5,968
  6,234
  6,500
  6,769
  7,043
  7,323
  7,612
Issuance/(repurchase) of shares, $m
  12
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  49
  153
  259
  364
  495
  655
  842
  1,058
  1,299
  1,562
  1,844
  2,140
  2,447
  2,760
  3,075
  3,389
  3,699
  4,005
  4,304
  4,596
  4,881
  5,159
  5,432
  5,702
  5,968
  6,234
  6,500
  6,769
  7,043
  7,323
  7,612
Total cash flow (excl. dividends), $m
  36
  242
  478
  766
  1,148
  1,640
  2,257
  3,013
  3,918
  4,981
  6,209
  7,601
  9,164
  10,894
  12,788
  14,844
  17,056
  19,421
  21,933
  24,588
  27,384
  30,317
  33,385
  36,588
  39,925
  43,399
  47,010
  50,763
  54,662
  58,711
  62,917
Retained Cash Flow (-), $m
  -36
  -45
  -29
  -40
  -55
  -73
  -94
  -118
  -144
  -174
  -205
  -238
  -272
  -307
  -342
  -377
  -411
  -445
  -478
  -511
  -542
  -573
  -604
  -634
  -663
  -693
  -722
  -752
  -783
  -814
  -846
Prev. year cash balance distribution, $m
 
  118
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  315
  449
  725
  1,093
  1,567
  2,164
  2,895
  3,774
  4,808
  6,004
  7,363
  8,892
  10,587
  12,447
  14,467
  16,645
  18,976
  21,455
  24,078
  26,842
  29,744
  32,781
  35,954
  39,262
  42,706
  46,288
  50,011
  53,880
  57,898
  62,072
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  302
  411
  631
  900
  1,215
  1,570
  1,956
  2,359
  2,762
  3,148
  3,497
  3,794
  4,025
  4,179
  4,247
  4,230
  4,129
  3,951
  3,707
  3,411
  3,076
  2,720
  2,356
  2,000
  1,661
  1,350
  1,073
  834
  632
  467
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Extreme Networks, Inc. is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment. The Company's products include ExtremeWireless, ExtremeSwitching, ExtremeControl, ExtremeManagement, ExtremeCloud, ExtremeAnalytics and ExtremeSecurity. The Company offers solutions in categories, which includes industry solutions, technology solutions and managed services solutions. The Company operates in three geographical areas: Americas, which includes the United States, Canada, Mexico, Central America and South America; EMEA, which includes Europe, Russia, Middle East and Africa, and APAC, which includes Asia Pacific, South Asia, India, Australia and Japan.

FINANCIAL RATIOS  of  Extreme Networks (EXTR)

Valuation Ratios
P/E Ratio -144.9
Price to Sales 2.2
Price to Book 10.4
Price to Tangible Book
Price to Cash Flow 22.1
Price to Free Cash Flow 26.6
Growth Rates
Sales Growth Rate 13.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 100%
Cap. Spend. - 3 Yr. Gr. Rate -14.6%
Financial Strength
Quick Ratio 11
Current Ratio 0
LT Debt to Equity 64.3%
Total Debt to Equity 73.8%
Interest Coverage 0
Management Effectiveness
Return On Assets -0.5%
Ret/ On Assets - 3 Yr. Avg. -7.4%
Return On Total Capital -4.9%
Ret/ On T. Cap. - 3 Yr. Avg. -19.1%
Return On Equity -8.3%
Return On Equity - 3 Yr. Avg. -32.2%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 54.2%
Gross Margin - 3 Yr. Avg. 52%
EBITDA Margin 4.3%
EBITDA Margin - 3 Yr. Avg. 1.6%
Operating Margin -0.2%
Oper. Margin - 3 Yr. Avg. -5.5%
Pre-Tax Margin -0.7%
Pre-Tax Margin - 3 Yr. Avg. -6%
Net Profit Margin -1.5%
Net Profit Margin - 3 Yr. Avg. -6.9%
Effective Tax Rate -125%
Eff/ Tax Rate - 3 Yr. Avg. -48.9%
Payout Ratio 0%

EXTR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EXTR stock intrinsic value calculation we used $598 million for the last fiscal year's total revenue generated by Extreme Networks. The default revenue input number comes from 2017 income statement of Extreme Networks. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EXTR stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for EXTR is calculated based on our internal credit rating of Extreme Networks, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Extreme Networks.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EXTR stock the variable cost ratio is equal to 64.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $220 million in the base year in the intrinsic value calculation for EXTR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.1% for Extreme Networks.

Corporate tax rate of 27% is the nominal tax rate for Extreme Networks. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EXTR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EXTR are equal to 8.8%.

Life of production assets of 4.7 years is the average useful life of capital assets used in Extreme Networks operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EXTR is equal to -5.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $126 million for Extreme Networks - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 114.217 million for Extreme Networks is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Extreme Networks at the current share price and the inputted number of shares is $1.3 billion.

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COMPANY NEWS

▶ Networking Gear Firms Ride Cloud Computing, AI Growth Trends   [Feb-08-18 05:37PM  Investor's Business Daily]
▶ How Extreme Networks, Inc. Stock Rose 20% in January   [Feb-07-18 10:51PM  Motley Fool]
▶ Extreme Networks reports 2Q loss   [Feb-06-18 06:29PM  Associated Press]
▶ Extreme Networks (EXTR) Jumps: Stock Rises 9.6%   [Jan-31-18 08:51AM  Zacks]
▶ Anatomy of Success: Extreme Networks (EXTR)   [Jan-23-18 01:58PM  Zacks]
▶ [$$] Buying Facebook, Mosaic and Extreme Networks   [Jan-09-18 05:29AM  Barrons.com]
▶ Why Extreme Networks, Inc Stock Rose 149% in 2017   [Jan-05-18 02:45PM  Motley Fool]
▶ 3 Top Stocks That Aren't on Wall Street's Radar   [Jan-02-18 11:43AM  Motley Fool]
▶ 3 Tech Stocks to Buy for 2018   [Dec-15-17 09:33AM  Motley Fool]
▶ 3 High-Growth Tech Stocks to Buy Now   [Dec-07-17 06:56PM  Zacks]
▶ Charles Schwab Leads These Four Top Stocks Hitting Buy Zones: S&P 500 Futures   [Nov-22-17 07:10AM  Investor's Business Daily]
▶ 3 Takeaways From Extreme Networks' Earnings   [Nov-21-17 09:12AM  Motley Fool]
▶ Wi-Fi Usage and Satisfaction at NFL Stadiums on the Rise   [Nov-15-17 08:00AM  PR Newswire]
▶ Extreme Networks beats 1Q profit forecasts   [06:29PM  Associated Press]
▶ New Strong Buy Stocks for October 4th   [Oct-04-17 09:52AM  Zacks]
▶ Brocade to sell data center business early as $5.9B Broadcom merger delayed again   [Oct-03-17 07:21PM  American City Business Journals]
▶ Is It Time To Buy Extreme Networks Inc (EXTR)?   [Sep-21-17 08:45AM  Simply Wall St.]
▶ How NFL advertisers will react to NFL controversies   [Sep-12-17 01:15PM  Yahoo Finance Video]
▶ How Extreme Networks Stock Rose 30% in August   [Sep-04-17 09:56AM  Motley Fool]
▶ Earnings Beat, Buying Spree Are Driving This 'Extreme' Breakout   [Aug-30-17 09:43AM  Investor's Business Daily]
▶ How Extreme Networks Won Big in Its Q4   [10:55AM  24/7 Wall St.]
▶ Extreme Networks tops Street 4Q forecasts   [Aug-14-17 09:45PM  Associated Press]
Financial statements of EXTR
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