Calix Analysts Increase Their Forecasts After Upbeat Q3 Results

Calix, Inc. (NYSE:CALX) reported better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates, after the closing bell on Wednesday.

Calix posted adjusted earnings of 44 cents per share, beating market estimates of 24 cents per share. The company's quarterly sales came in at $265.437 million versus expectations of $246.100 million.

Calix said it sees fourth-quarter adjusted EPS of $0.35-$0.41, versus estimates of $0.20. The company projects sales of $267.000 million-$273.000 million versus expectations of $250.980 million.

Calix shares rose 9.3% to close at $68.04 on Thursday.

These analysts made changes to their price targets on Calix following earnings announcement.

• Needham analyst Ryan Koontz maintained Calix with a Buy and raised the price target from $70 to $82.
• Rosenblatt analyst Mike Genovese maintained the stock with a Buy and raised the price target from $65 to $85.

Considering buying CALX stock? Here’s what analysts think:

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