net gear (NTGR – Free Report) announces the availability of the new Nighthawk DOCSIS 3.1 High Speed Internet Cable Modem (CM3000). The modem is designed to handle the latest DOCSIS 3.1 cable internet speeds.
The company added that the new modem offers download speeds of up to 2.5Gbps and upload speeds of up to 1Gbps. The CM3000 meets the growing demand for Internet usage such as video conferencing and smart home monitoring.
The CM3000 works seamlessly with major US cable service providers and is expected to support future high-fraction needs. A user can optimize internet performance by pairing the CM3000 with his NETGEAR WiFi 6E or WiFi 7 router or Orbi whole home mesh system.
The Nighthawk CM3000 can be purchased from the company’s website for $299.99. The company continues to invest heavily in research and development to expand its product line.
In the future, the company plans to further expand its product line of WiFi 7 mesh and mobile hotspots. According to a report by Markets and Markets, the global Wi-Fi market is expected to reach $39.4 billion by 2028, growing at a CAGR of 22.2% from 2023 to 2028.
In December, the company announced its S3600 series smart switches aimed at meeting growing network demands. The smart switch consists of an 8-port 10G/Multi-Gigabit (XS508TM) and a 16-port 10G/Multi-Gigabit (XS516TM) that provide adaptable wired connectivity for high-bandwidth devices.
Ahead of that, the company announced its newly enhanced Orbi 970 lineup to meet the growing demand for faster Wi-Fi, lower latency, and higher capacity due to rising multi-giga internet speeds and the proliferation of connected devices and bandwidth. announced. Intensive application.
NETGEAR currently carries a Zacks Rank #3 (Hold). The company’s stock has declined 17.4% over the past year, compared to a growth rate of 0.7% for its industry.
Stocks to consider
Top stocks in the broader technology space include: synopsis (SNPS – free report), woodward (WWD – free report) and Perion Network (Peri – free report). Synopsys currently sports a Zacks Rank #1 (Strong Buy), while Woodward and Perion Networks carries a Zacks Rank #2 (Buy).You can see See the complete list of today’s Zacks #1 Rank stocks here.
Synopsys’ Zacks Consensus Estimate for 2024 EPS has increased 1.1% over the past 60 days to $13.56. SNPS’s long-term profit growth rate is 17.5%.
Synopsys’s earnings have exceeded the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 4.1%. SNPS stock has increased 59.1% over the past year.
The Zacks Consensus Estimate for Woodward’s 2024 EPS has moved 5.7% over the past 60 days to $5.27. WWD’s long-term profit growth rate is 15.5%.
Woodward’s earnings have exceeded the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 27.2%. WWD stock has increased 57.3% over the past year.
Perion Network’s Zacks Consensus Estimate for its fiscal 2024 EPS has improved 0.6% over the past 60 days to $3.34. PERI’s long-term earnings growth rate is 22%.
The company’s earnings have exceeded the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 12.9%. PERI stock has fallen 37.1% over the past year.
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The company is a little-known chemical company, and despite a 65% increase over last year, it’s still very cheap. With continued demand, soaring 2022 profit estimates and $1.5 billion in stock buybacks, retail investors could jump in at any time.
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