Extreme Networks appoints new head of security sales

Published 02/10/2024, 12:14
Extreme Networks appoints new head of security sales

MORRISVILLE, N.C. - Extreme Networks , Inc. (NASDAQ:EXTR), a company specializing in cloud networking, has recently appointed David Nuti as the Head of Security Sales. Nuti, a seasoned security executive, brings a wealth of experience from his previous roles at top security companies, aiming to bolster Extreme's security initiatives.

Nuti's background includes significant roles in sales and business development within the cybersecurity sector. Prior to joining Extreme Networks, he served as Chief Business Development Officer at Exium and as Senior Vice President of North America for Nord Security's B2B and enterprise business practice. His experience also extends to leadership positions at Aryaka Networks.

In his new role, Nuti will be responsible for advancing the company's cybersecurity revenue growth and driving the strategy and expansion of Extreme's Universal Zero Trust Network Access (UZTNA) solution. He will report directly to Nabil Bukhari, General Manager of Extreme's subscription business.

Extreme Networks has been recognized for its convergence of networking, security, and artificial intelligence with solutions like Extreme Network Fabric, ExtremeCloud Universal ZTNA, Extreme Air Defense, and ExtremeCloud SD-WAN. The company has over 5,000 customers utilizing Extreme Fabric, which is designed to enhance security through network segmentation and automation, minimizing the risk of lateral cyberattacks.

Ed Meyercord, President and CEO of Extreme Networks, emphasized the importance of leadership and expertise in driving innovation within the industry. He expressed confidence in Nuti's ability to elevate the company's security leadership, citing the market's growing demand for AI-enhanced security solutions that can address the complexities of modern digital ecosystems.

Nuti, in his statement, highlighted the importance of security for C-suite executives and the challenges posed by evolving threats and data growth. He expressed his enthusiasm for contributing his expertise to Extreme Networks, which he considers a leader in the convergence of AI, networking, and security.

Extreme Networks serves a global customer base with AI-driven cloud networking solutions that focus on simplicity and security, aiming to help businesses navigate challenges and connect devices, applications, and users.

This article is based on a press release statement from Extreme Networks, Inc.

"In other recent news, Extreme Networks has reported substantial developments. The company's financial outcomes for the fourth quarter of fiscal year 2024 indicate a robust growth trajectory for fiscal year 2025, with projected revenues between $1.110 billion and $1.135 billion. In addition, revenue for Q1 fiscal year 2025 is expected to fall between $255 million and $265 million.

B.Riley has maintained its Buy rating and $18.00 price target for Extreme Networks, highlighting an improvement in demand and a positive shift towards higher-margin, subscription-based recurring revenue. The firm's confidence is bolstered by the company's strategic focus on next-generation AI and cloud networking, which are anticipated to drive growth in recurring revenue.

In line with these developments, Extreme Networks is undergoing a transformation to increase its market share, with a goal of achieving a quarterly run-rate of $300 million by calendar year 2025. This target is backed by an expanding sales funnel and the acquisition of new business logos. These recent developments reflect the company's potential for sustained revenue expansion and improved financial performance in the coming years."

InvestingPro Insights

As Extreme Networks, Inc. (NASDAQ:EXTR) appoints David Nuti to lead its security sales efforts, investors may find additional context from recent financial data and expert insights valuable.

According to InvestingPro data, Extreme Networks has a market capitalization of $1.95 billion, reflecting its significant presence in the cloud networking space. The company's revenue for the last twelve months as of Q4 2024 stood at $1.12 billion, although it experienced a revenue decline of 14.88% over this period. This context underscores the importance of Nuti's appointment in potentially driving new growth in the security segment.

InvestingPro Tips highlight that management has been aggressively buying back shares, which could signal confidence in the company's future prospects. Additionally, analysts predict that Extreme Networks will be profitable this year, aligning with the company's strategic moves in the security sector.

The stock has shown a strong return over the last five years, with a notable 31.99% price increase over the past six months. This positive momentum could provide a favorable backdrop for the company's expansion in the cybersecurity market.

For investors seeking a deeper understanding of Extreme Networks' potential, InvestingPro offers 11 additional tips, providing a more comprehensive analysis of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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