Calix's (CALX) "Buy" Rating Reaffirmed at Rosenblatt Securities

Key Points

• Rosenblatt reaffirmed a "Buy" rating on Calix with a $70 price target, implying roughly a 40.7% upside from the prior close.
• Calix beat Q1 expectations with $0.40 EPS (vs. $0.37 consensus) and $279.98M revenue (up 27% YoY) and set Q2 guidance of $0.35–$0.45 EPS above consensus, signaling continued demand and upward momentum.
• The board has authorized share repurchases — initially a $125M program (up to ~3.4% of shares) and later added $100M to the buyback — a direct capital-return move that can support the stock.

Calix (NYSE:CALX - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Rosenblatt Securities in a report issued on Wednesday,Benzinga reports. They currently have a $70.00 price objective on the communications equipment provider's stock. Rosenblatt Securities' target price would indicate a potential upside of 40.74% from the company's previous close.

Several other research analysts have also weighed in on CALX. Zacks Research lowered shares of Calix from a "hold" rating to a "strong sell" rating in a report on Thursday, April 16th. Weiss Ratings raised shares of Calix from a "sell (d-)" rating to a "hold (c-)" rating in a report on Monday, February 23rd. Craig Hallum set a $60.00 price objective on shares of Calix in a report on Friday, January 30th. Needham & Company LLC decreased their price objective on shares of Calix from $82.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Calix from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $68.86.

Calix Price Performance

Shares of CALX stock opened at $49.74 on Wednesday. The firm has a market cap of $3.21 billion, a P/E ratio of 198.94 and a beta of 1.53. Calix has a 1-year low of $35.70 and a 1-year high of $71.22. The firm has a fifty day moving average of $50.97 and a two-hundred day moving average of $54.60.

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

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Clearstead Advisors LLC lifted its position in shares of Calix by 139.3% in the 3rd quarter. Clearstead Advisors LLC now owns 438 shares of the communications equipment provider's stock worth $27,000 after buying an additional 255 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Calix by 63.0% in the 4th quarter. Farther Finance Advisors LLC now owns 551 shares of the communications equipment provider's stock worth $29,000 after buying an additional 213 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Calix in the 2nd quarter worth about $30,000. Whittier Trust Co. lifted its position in shares of Calix by 541.0% in the 3rd quarter. Whittier Trust Co. now owns 641 shares of the communications equipment provider's stock worth $38,000 after buying an additional 541 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Calix by 125.4% in the 3rd quarter. Covestor Ltd now owns 656 shares of the communications equipment provider's stock worth $40,000 after buying an additional 365 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors.

Trending Headlines about Calix

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Q1 results topped expectations — Calix reported $0.40 EPS (vs. ~$0.37 consensus) and revenue of $279.98M, up 27% year-over-year, signaling strong demand for its communications equipment and software services. Calix (CALX) Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Raised Q2 2026 guidance — management set EPS guidance of $0.35–0.45 (above consensus of ~$0.33) and revenue guidance roughly $287M–$293M (above consensus), underscoring confidence in near-term growth and supporting a higher valuation multiple. Calix Releases First Quarter 2026 Financial Results; To Host Investor Day 2026 at the NYSE
• Positive Sentiment: Board increases buyback authorization by $100M — the company added $100M to its repurchase program (bringing additional firepower and representing ~3% of shares), a direct capital-return move that often supports share prices. Calix Increases Stock Repurchase Authorization by An Additional $100 Million
• Neutral Sentiment: Investor Day announced — Calix will host an Investor Day at the NYSE to outline its long-term growth strategy (could provide more clarity and drive sentiment depending on management’s execution details). Calix Releases First Quarter 2026 Financial Results; To Host Investor Day 2026 at the NYSE
• Neutral Sentiment: Earnings call transcript available — the call provides color on product demand, margin outlook and timing of buybacks; useful for investors wanting detail but not a direct market mover by itself. Calix, Inc. (CALX) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Large executive compensation grants — disclosures show over ~2.1M long-term incentive rights plus additional performance and short-term rights, which investors may view as potential dilution and an offset to buyback benefits. Calix Grants Over 2.1 Million Long-Term Incentive Rights to Executive Management

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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