Extreme Networks (NASDAQ:EXTR) is one of the 11 best communication equipment stocks according to hedge funds. On January 29, the price target on Extreme Networks (NASDAQ:EXTR) was reduced from $21 to $17 by UBS analyst David Vogt. The analyst reaffirmed his Neutral rating on the stock based on UBS’s stance to stay on the sidelines. This stance is based on the company’s mixed quarter two results. Mizuho Sees Long-Term Upside in CoreWeave (CRWV) Despite Near-Term Risks Copyright: hywards / 123RF Stock Pho ...

Company Performance - Extreme Networks, Inc. reported a 14% year-over-year increase in quarterly revenue, reaching $317.9 million for fiscal Q2 2026 [1] - The non-GAAP EPS for the quarter was $0.26, surpassing the $0.21 EPS from the previous year [1] - The company achieved its seventh consecutive quarter of sequential growth [2] Revenue Breakdown - Product revenue increased by 25.5% year-over-year, while Subscription and Support revenue grew by 13% [2] - The SaaS ARR (Annual Recurring Revenue) reached $226.8 million [2] Future Outlook - For fiscal Q3 2026, Extreme Networks expects revenue to be in the range of $309.1 million to $314.1 million [3] - Gross margins are anticipated to be between 60.4% and 60.8% [3] Company Overview - Extreme Networks operates as a developer, marketer, and seller of network infrastructure equipment and related software [4] - The company provides products such as ExtremeCloud IQ, ExtremeCloud IQ-Site Engine, and ExtremeCloud IQ Essentials, serving mid-market and enterprise customers as well as service providers across various industries [4]

Group 1 - Extreme Networks, Inc. (NASDAQ:EXTR) is rated as a consensus 'Buy' by 88% of analysts, with a median price target of $24.50 indicating a potential upside of nearly 35% [1] - BofA analyst Tomer Zilberman initiated coverage with a 'Buy' rating and a $24 price target, citing growth catalysts such as campus network refresh projects, the WiFi-7 upgrade cycle, and increased adoption of cloud and SaaS products [2] - The price target is based on 17 times the company's forecasted EPS for CY2027, which is considered a discount compared to peers due to the company's narrower operating scale and exposure to budget-sensitive markets [3] Group 2 - Other analysts, including Eric Martinuzzi from Lake Street and Michael Genovese from Rosenblatt Securities, have also reaffirmed 'Buy' ratings with price targets of $24 and $25 respectively [4] - Extreme Networks specializes in infrastructure equipment and related software, offering products like ExtremeCloud IQ, ExtremeCloud IQ-Site Engine, and ExtremeCloud IQ Essentials [5]