Extreme Networks price target raised to $21 from $18 at B. Riley

B. Riley analyst Dave Kang raised the firm’s price target on Extreme Networks (EXTR) to $21 from $18 and keeps a Buy rating on the shares. Extreme’s Q1 revenue was down 23.8% year over year, but was up 4.9% quarter over quarter, despite Q1 being seasonally weak, the analyst tells investors in a research note. The inventory correction cycle appears to be behind the company, as management expects continued growth in Q2 and throughout FY25, the firm says. Despite macro uncertainty in Europe, B. Riley believes overall metrics are trending in the right direction.