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.

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.

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Disclosure: None.