Calix (NYSE:CALX) Price Target Lowered to $65.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its price target on Calix from $70 to $65 while keeping an "overweight" rating, a target that the report says implies roughly a 52% upside from the stock's then-current price.
• Q1 beat and raised guidance: Calix reported EPS of $0.40 (vs. $0.37 est.) and revenue of $279.98M, up ~27% year-over-year, and set Q2 EPS guidance of $0.35–$0.45.
• Board buybacks amplified: Management authorized a $125M repurchase program (about 3.4% of shares) and later approved roughly an additional $100M in buybacks (adding ~3% of shares), signaling confidence in the shares.

Calix (NYSE:CALX - Get Free Report) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $70.00 to $65.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the communications equipment provider's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 51.95% from the company's current price.

Other equities analysts also recently issued reports about the stock. Weiss Ratings raised shares of Calix from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Monday, February 23rd. Zacks Research downgraded shares of Calix from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 16th. Needham & Company LLC lowered their price objective on shares of Calix from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, January 29th. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 price objective on shares of Calix in a research note on Wednesday. Finally, Craig Hallum set a $60.00 price objective on shares of Calix in a research note on Friday, January 30th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Calix presently has an average rating of "Moderate Buy" and a consensus target price of $68.14.

Calix Price Performance

NYSE CALX traded down $6.80 during trading on Wednesday, hitting $42.78. 3,542,258 shares of the company's stock traded hands, compared to its average volume of 1,094,806. The stock has a fifty day moving average of $50.97 and a two-hundred day moving average of $54.60. Calix has a 12-month low of $36.25 and a 12-month high of $71.22. The firm has a market cap of $2.76 billion, a P/E ratio of 171.50 and a beta of 1.53.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The communications equipment provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. Calix had a net margin of 1.79% and a return on equity of 2.31%. The business had revenue of $279.98 million during the quarter, compared to analyst estimates of $277.50 million. During the same period in the prior year, the business posted $0.19 earnings per share. The company's revenue was up 27.2% on a year-over-year basis. Calix has set its Q2 2026 guidance at 0.350-0.450 EPS. As a group, analysts expect that Calix will post 0.87 earnings per share for the current fiscal year.

Calix declared that its board has initiated a share buyback program on Wednesday, January 28th that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the communications equipment provider to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Calix

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Calix by 1.0% in the fourth quarter. State Street Corp now owns 2,362,965 shares of the communications equipment provider's stock worth $125,072,000 after buying an additional 23,022 shares in the last quarter. Geode Capital Management LLC raised its stake in Calix by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 1,445,338 shares of the communications equipment provider's stock worth $76,513,000 after buying an additional 74,235 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Calix by 4.5% during the third quarter. Alliancebernstein L.P. now owns 1,409,729 shares of the communications equipment provider's stock valued at $86,515,000 after purchasing an additional 61,247 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Calix by 214.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider's stock valued at $78,212,000 after purchasing an additional 868,987 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of Calix by 67.4% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,145,292 shares of the communications equipment provider's stock valued at $60,620,000 after purchasing an additional 461,196 shares in the last quarter. 98.14% of the stock is owned by institutional investors.

More Calix News

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Q1 beat and raised Q2 outlook — Calix reported Q1 EPS of $0.40 and revenue of $279.98M (up ~27% Y/Y), beating expectations; management set Q2 EPS guidance of $0.35–$0.45 and revenue guidance roughly $287M–$293M, signaling continued broadband demand and AI-driven gains. Read More.
• Positive Sentiment: Board ups buyback by $100M — Calix’s board authorized an additional $100M to repurchase shares (adds ~3% of shares outstanding under program), a capital-return move that typically supports share price. Read More.
• Positive Sentiment: Analyst bullish note — Rosenblatt reaffirmed a "buy" and a $70 price target, highlighting upside if execution on broadband/AI investments continues. Read More.
• Neutral Sentiment: Investor Day / earnings materials posted — Management hosted the Q1 call and announced an Investor Day at the NYSE to outline the next phase of growth (useful for longer-term thesis but not an immediate catalyst). Read More.
• Neutral Sentiment: Multiple earnings call transcripts available — Full Q1 and prior calls/transcripts published (Yahoo, Seeking Alpha, The Motley Fool) for deeper diligence; informational but not a separate catalyst. Read More.
• Negative Sentiment: Analyst downgrade — Northland cut Calix from "outperform" to "market perform" with a $52 target, reducing near-term analyst support and likely contributing to selling pressure.
• Negative Sentiment: Management equity grants — Announcements of long- and short-term incentive awards (performance and rights) to executives could create dilution or be viewed as near-term overhang by some investors. Read More.
• Neutral Sentiment: NYSE floor content update — General NYSE pre-market advisory noted (broad market context, not company-specific). Read More.

About Calix

Calix, Inc is a provider of cloud and software platforms, systems, and services that enable broadband service providers to transform their networks and subscriber experiences. The company's flagship Calix Cloud platform delivers real-time analytics, automation and intelligence designed to simplify network operations, improve service agility and drive revenue growth. Calix also offers a comprehensive suite of premises and access systems, including broadband access nodes, fiber-to-the-home optics and residential gateways under the GigaSpire brand.

Through its software-defined network architecture, Calix helps service providers virtualize key network functions and introduce new services with minimal capital expenditure.

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