FORT WORTH, Texas - Extreme Networks , Inc. (NASDAQ:EXTR), a cloud networking company, has announced its achievement as the first vendor to receive a standard power grant for outdoor Wi-Fi 6E deployments, a move that will benefit customers like Cedar Fair (NYSE:FUN), the San Francisco Giants, and Brigham Young University (BYU) with enhanced wireless connectivity.
The company's AP5050 Universal Wi-Fi 6E access points are designed for outdoor use and are now operational in various venues across the United States.
The grant, obtained in collaboration with Wi-Fi Alliance Services, will enable customers to experience faster speeds, extended coverage, and improved device performance in outdoor settings. The Wi-Fi 6E technology is expected to revolutionize connectivity in spaces such as stadiums, concert venues, and university campuses by utilizing the 6 GHz band.
Kevin Robinson, CEO of Wi-Fi Alliance Services, emphasized the significance of this development in wireless history, highlighting its potential to create new experiences and opportunities for applications and services that demand robust connectivity, even in densely populated areas.
Cedar Fair, a renowned operator of amusement parks and resorts, has implemented ExtremeCloud™ IQ and Wi-Fi 6E solutions to enhance park operations, including ride performance monitoring, crowd management, and energy optimization.
Ty Tastepe, CIO of Cedar Fair, expressed excitement about the innovations enabled by Extreme's technology, emphasizing its role in the company's digital evolution and guest experience.
Similarly, the San Francisco Giants and BYU have adopted Extreme's Wi-Fi 6E-ready networks to improve fan engagement and mobile services. BYU's Associate Athletic Director Casey Stauffer noted the significant impact on the game day experience, from streaming to social media sharing.
Nabil Bukhari, Chief Product and Technology Officer at Extreme, stressed the transformative potential of 6 GHz outdoor Wi-Fi, positioning the company as a leader in the market and a driver of future wireless connectivity advancements.
Extreme Networks prides itself on its cloud-driven networking solutions, servicing 50,000 global customers and focusing on technological innovation through machine learning, AI, analytics, and automation.
This press release statement marks a milestone for Extreme Networks and its customers, as they embark on leveraging the capabilities of Wi-Fi 6E in outdoor environments.
InvestingPro Insights
As Extreme Networks, Inc. (NASDAQ:EXTR) solidifies its position in the Wi-Fi 6E market with its recent achievements, investors and industry observers are closely monitoring its financial health and stock performance.
According to real-time data from InvestingPro, the company has a market capitalization of approximately $1.38 billion, showcasing its notable presence in the networking technology sector. The P/E ratio stands at a moderate 17.38, suggesting that investors may find the company's earnings potential to be reasonably valued in the current market.
From an operational standpoint, InvestingPro Tips highlight that Extreme Networks has a perfect Piotroski Score of 9, indicating strong financial health, and management has been actively engaging in share buybacks, a sign of confidence in the company's future prospects. These buybacks contribute to a high shareholder yield, which can be attractive to investors seeking companies with a proactive approach to capital allocation.
Still, it is important to note that analysts have tempered their expectations slightly, with seven analysts revising their earnings projections downwards for the upcoming period. This sentiment is reflected in the company's stock price, which has experienced significant volatility and is currently trading near its 52-week low. These dynamics may present both challenges and opportunities for investors.
For those interested in a deeper dive into Extreme Networks' financials and stock performance, there are additional InvestingPro Tips available that could provide further insights into the company's valuation, debt levels, and analysts' profitability predictions. To access these insights and more, visit https://www.investing.com/pro/EXTR and use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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