5 Oversold NASDAQ Stocks To Buy Right Now

In this article, we will be taking a look at 5 oversold NASDAQ stocks to buy right now. To read our detailed analysis of current stock market news, you can go directly to see the 11 Oversold NASDAQ Stocks To Buy Right Now.

5. Extreme Networks, Inc. (NASDAQ:EXTR)

Number of Hedge Fund Holders: 36

14-day RSI as of March 13: 28.13

Extreme Networks, Inc. (NASDAQ:EXTR) is a communications equipment company based in Morrisville, North Carolina. The company provides software-driven networking solutions worldwide.

As of February 1, Needham analysts maintain a Buy rating and a $16.5 price target on Extreme Networks, Inc. (NASDAQ:EXTR).

In total, 36 hedge funds were long Extreme Networks, Inc. (NASDAQ:EXTR) in the fourth quarter, with a total stake value of $276.2 million.

Fred Alger Management mentioned Extreme Networks, Inc. (NASDAQ:EXTR) in its fourth-quarter 2023 investor letter:

“Extreme Networks, Inc. (NASDAQ:EXTR) specializes in comprehensive, cloud-native networking solutions, combining the design and production of network infrastructure equipment with its exclusive cloud management platform and a wide range of applications. We consider their Wi-Fi and switching equipment and software to be among the top choices for enterprises, managed efficiently over the cloud. Their latest offering, universal equipment, now integrates computing, security, and Al capabilities directly at the enterprise level. This expands their Total Addressable Market (TAM) significantly. During the quarter, the company reported strong fiscal first quarter results, where revenues beat analyst estimates, resulting in margin expansion and higher than expected free cash flow generation. However, management lowered their fiscal full year revenue guidance, citing macroeconomic weakness as enterprises continue to delay network upgrades. As a result, shares detracted from performance.”