NETGEAR (NTGR) to Launch the Nighthawk Wi-Fi 7 Router RS700

NETGEAR NTGR has released a new addition to its Nighthawk line, the Nighthawk RS700 Router, the first Wi-Fi 7 router in the market. The new router is priced at $699.99 and will be available in the United States on the company’s website from the second quarter of 2023.

The router is aimed at addressing the Wi-Fi requirements of modern “hyper-connected” homes, owing to a rise in bandwidth-dependent applications such as 4K/8K video streaming, HD Zoom calls and real-time gaming and AR/VR applications. Per a report from Markets and Markets, the global Wi-Fi market is expected to reach $31.3 billion by 2027, witnessing a CAGR of 20.4% from 2022 to 2027.

The Nighthawk RS700 router is powered by Broadcom's BCM6726/3 Wi-Fi 7 system on a chip and achieves speeds of up to 19Gbps, which is more than double the speed of previous generations, noted the company.

NETGEAR, Inc. Price and Consensus

NETGEAR, Inc. Price and Consensus

NETGEAR, Inc. price-consensus-chart | NETGEAR, Inc. Quote

The router also features a 10Gb Internet port to support high-speed Internet, as well as 10GB and four 1GB LAN ports for flexible wired connections. The router also comes with one year of NETGEAR Armor Powered by Bitdefender, which provides an automatic shield of security for all connected devices, highlighted by the company.

The Nighthawk RS700 Router features a slender chassis with high-performance antennas that provide 360 degrees of coverage optimized to support up to 200 concurrent client devices, added the company.

The RS700 routers can be networked together using the Nighthawk Mesh to provide “wall-to-wall” Wi-Fi speed in large houses. The router also enables four separate networks to maximize performance, including a main and a guest network, a priority network for low-latency applications such as streaming and gaming, and an IoT network for smart home devices.

The company continues to invest heavily in research and development to expand its product line. In December, the company announced the launch of WAX220 Wi-Fi 6 AX4200 Dual-band Access Point (WAX220) to tap the growing demand for cheap and fast network connectivity.

Prior to that, the company announced the launch of WAX628 and WAX638E Wi-Fi 6 and 6E access points and services to tap the residential installer market. The WAX628 and WAX638E offer speeds up to 5.4 Gbps and 7.8 Gbps, respectively.

The recent product launch of the Nighthawk RS700 Router complements the previous launches of WAX220 WiFi 6 AX4200 and WAX628 and WAX638E Wi-Fi 6 and 6E access points to provide users with high-speed Internet connectivity.

NETGEAR currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 27% compared with the sub-industry’s decline of 11.9% in the past year.

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Stocks to Consider

Some better-ranked stocks in the broader technology space are Arista Networks ANET, Perion Network PERI and Pegasystems PEGA, each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Arista Networks 2023 earnings is pegged at $5.79 per share, rising 11.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 14.2%.

Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have increased 23.3% in the past year.

The Zacks Consensus Estimate for Perion’s 2023 earnings is pegged at $2.69 per share, rising 16% in the past 60 days. The long-term earnings growth rate is anticipated to be 25%.

Perion’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 31.7%. Shares of PERI have increased 64.9% in the past year.

The Zacks Consensus Estimate for Pegasystems 2023 earnings is pegged at $1.35 per share, rising 101.5% in the past 60 days.

Pegasystems earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average surprise being 11.2%. Shares of the company have declined 39.4% in the past year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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