2 Tech Stocks That Are Screaming Buys Right Now

The Federal Reserve is trying to fight sky-high inflation with its aggressive rate hikes. This has led the capital-intensive tech industry to witness a massive selloff due to…

investors’ concerns over their rising borrowing costs.

However, the industry is expected to thrive over the long run, given the growing tech inclination and increasing investment in advancing technologies worldwide.

IDC projects that the technology industry is on pace to exceed $5.3 trillion in 2022. In addition, the United States is the largest tech market in the world, representing 33% of the total, or approximately $1.8 trillion, for 2022.

Hence, we think fundamentally strong tech stocks, Extreme Networks, Inc. (EXTR) and Hackett Group Inc. (HCKT), might be solid buys, given their solid growth prospects.

Extreme Networks, Inc. (EXTR)

EXTR operates as a software-driven networking solutions provider that designs, develops, and manufactures wired and wireless network infrastructure equipment and engages in software development.

On October 6, EXTR announced that it had selected Verizon Business, a Verizon Communications Inc. (VZ) division, to deploy wireless connectivity service at Liverpool FC’s Anfield Stadium to enhance the in-stadium experience. The deployment, expected to begin later this year, should benefit the company.

On September 7, EXTR announced that Minor League Baseball (MiLB) had selected Extreme as an Official Technology Innovation Partner. Additionally, the company has been named the official Wi-Fi solution, Wi-Fi analytics solution, and WAN edge solution provider of MiLB in a five-year partnership, demonstrating its strong positioning in the industry.


EXTR’s net revenue increased 11.2% year-over-year to $297.69 million in the fiscal first quarter ended September 30, 2022. Its total gross profit grew 7.1% from the year-ago value to $166.71 million. The company’s cash flow provided by operations improved 23.6% year-over-year to $49.73 million, while its total free cash flow rose 26.5% year-over-year to $46.60 million.

Analysts expect EXTR’s revenue for the fiscal year ending June 2023 to be $1.25 billion, indicating an increase of 12.1% year-over-year, while its EPS is expected to improve 31.9% from the prior year to $1.02. In addition, EXTR has topped consensus EPS estimates in each of the trailing four quarters, which is impressive.

EXTR has gained 71.3% over the past year and 44.4% over the past three months to close its last trading session at…

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