Needham analyst Ryan Koontz has maintained their bullish stance on EXTR stock, giving a Buy rating yesterday.
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Ryan Koontz has given his Buy rating due to a combination of factors that highlight Extreme Networks’ potential for growth. The company’s management has emphasized the strong customer value of its Platform One, which is expected to drive significant revenue and earnings per share growth over the coming years. Key opportunities include the adoption of Platform One for AI use cases, market disruptions from mergers and new channel initiatives by competitors, and a recent price increase that could boost revenue.
Additionally, Extreme Networks is focusing on innovative commercial models aimed at increasing its Subscription Annual Recurring Revenue significantly by fiscal year 2029. The management has also addressed concerns about gross margins, providing guidance for short-term improvements and a longer-term target range. These strategic moves and financial projections support the Buy rating and the price target of $24.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $24.00 price target.