Here’s Why Analysts Are Bullish On Extreme Networks, Inc. (EXTR)

Extreme Networks, Inc. (NASDAQ:EXTR) is among the best hardware stocks to buy according to analysts. As of December 8, Extreme Networks, Inc. (NASDAQ:EXTR) is a consensus ‘Buy,’ with 88% of analysts covering the stock assigning it a ‘Buy’ or equivalent rating. While the target price ranges from $21 to $26, the median price target of $24.50 suggests an upside potential of nearly 35%.

As reported by TheFly, Tomer Zilberman, an analyst at BofA, initiated coverage of Extreme Networks, Inc. (NASDAQ:EXTR) with a ‘Buy’ rating and a $24 price target on November 19. The firm bases this upside potential of about 34% on several growth catalysts, including campus network refresh and modernization projects, the WiFi-7 upgrade cycle, and rising adoption of cloud- and SaaS-based products. The analyst believes these drivers could push the company’s performance above market expectations.

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The price target is based on 17 times the company’s CY2027 forecasted EPS, which represents a discount relative to peers. BofA Securities attributes this to the narrower operating scale and stronger exposure to budget-sensitive market verticals.

Other leading analysts also support this overall positive outlook. Earlier on November 11, Lake Street analyst Eric Martinuzzi reaffirmed the ‘Buy’ rating on Extreme Networks, Inc. (NASDAQ:EXTR), with a price target of $24. On the same day, Michael Genovese from Rosenblatt Securities maintained a ‘Buy’ rating and $25 price target on the stock.

Extreme Networks, Inc. (NASDAQ:EXTR) is a North Carolina-based company specializing in infrastructure equipment and related software. Incorporated in 1996, the company offers ExtremeCloud IQ, ExtremeCloud IQ-Site Engine, and ExtremeCloud IQ Essentials, among others.

While we acknowledge the potential of EXTR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EXTR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.