Rosenblatt Reiterates Buy Rating on Calix, Inc. with $70 Target
Rosenblatt analyst Mike Genovese maintains a Buy rating on Calix, Inc. with a $70 price target, a 82.34% upside from the current price.
Key Points
- Rosenblatt analyst Mike Genovese reiterated a Buy rating on Calix, Inc. (NYSE:CALX) with a $70 price target as of June 10, 2026.
- Rosenblatt's $70 price target implies 82.34% upside from Calix, Inc.'s ($CALX) current $38.39 share price.
- Calix, Inc. shares are trading at $38.39 with a market cap of approximately $2.45 billion; the company has a P/E ratio of 78.35.
- Recent institutional activity includes BlackRock reducing its holdings and Vanguard Portfolio Management initiating a new position in Calix.
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Rosenblatt analyst Mike Genovese has reiterated his Buy rating on Calix, Inc. (NYSE:CALX), maintaining a price target of $70. This update came on June 10, 2026, as part of Rosenblatt's ongoing coverage of the technology firm.
Other Institutional Activity in Calix, Inc.
Several institutional investors have adjusted their positions in Calix, Inc. BlackRock, Inc. trimmed its holdings by 309,538 shares, leaving it with 11,153,403 shares valued at about $546.4 million. Vanguard Portfolio Management LLC initiated a new position with 5,533,754 shares worth approximately $271.1 million. AllianceBernstein L.P. significantly increased its stake by 1,788,757 shares, now holding 3,251,128 shares valued at $172.1 million. Meanwhile, State Street Corp grew its position by 239,368 shares, ending with 2,602,333 shares valued at $127.6 million.
Calix, Inc. Stock Up 2.4%
Shares of NYSE:CALX are trading near $38.39. Calix, Inc. has a market cap of roughly $2.45 billion and a P/E ratio of 78.35. The stock's 52-week range is between $35.87 and $71.22. It has a 50-day moving average of $42.96 and a 200-day moving average of $52.99. The company's beta is 1.22, with a current ratio of 3.29 and a quick ratio of 2.017.
Recent Earnings
Calix, Inc. reported revenue of approximately $1.06 billion, reflecting a growth rate of 27.1%. The company achieved an EPS of $0.49 with a net margin of 3.2% and a return on equity (ROE) of 4.5%. The next earnings report is expected on April 21, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 target cuts vs 0 raises.
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EPS & revenue
EPS met estimates. Revenue missed estimates by 1.5%.
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Profit surprise
EBITDA missed by 48 percent. Operating income missed by 54 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
2 target cuts.
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Earnings quality
Gross margin up 1.2 points. Operating margin up 7.3 points. Positive free cash flow.
Earnings Call Summary
Calix delivered record quarterly revenue of $280 million and completed migration of all customers to its new cloud platform by end of March. The company is benefiting from strong customer demand and added 14 new customers this quarter. Management attributed the raised guidance primarily to robust underlying demand and partially to memory cost surcharges that will flow through starting in May, though demand was the bigger driver.
Guidance Calix raised its full-year growth outlook to between 15 and 20 percent, up from the prior 10 to 15 percent range. The company expects second quarter revenue between $287 million and $293 million. Gross margins will face headwinds from higher memory costs despite partial customer surcharges, with full-year gross margin expected to decline 50 to 150 basis points.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Insider Buying and Selling at Calix, Inc.
On May 14, 2026, several insiders at Calix, Inc. made purchases of 4,967 shares each. These insiders include Kira Makagon, Kevin Robert Peters, Christopher Bowick, Carl Russo, Wade Oosterman, and Rajatish Mukherjee. These transactions were not part of a pre-planned trading program.
Analysts Set New Price Targets
On June 10, 2026, Rosenblatt maintained its Buy rating on Calix, Inc. with a price target of $70. Needham also maintained a Buy rating with a $62 target on April 23, 2026. JP Morgan reiterated its Buy rating with a $65 target on April 22, 2026. The consensus among analysts is a Buy, with a mean price target of $66 based on six analyst opinions.
About Calix, Inc.
Calix, Inc. provides cloud and software platforms, systems, and services that help broadband service providers deliver a range of services. The company, headquartered in San Jose, California, offers solutions like Calix Cloud, Calix Intelligent Access, and a variety of managed services. Led by CEO Mr. Michael Weening, Calix employs 1,921 people and supports customers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
Bottom Line
Rosenblatt's reiterated Buy rating with a $70 target reflects continued confidence in Calix, Inc.'s prospects. Investors track such analyst updates closely, as they can influence market sentiment and trading activity. Keep in mind that analyst ratings are forward-looking and based on various assumptions and expectations about the company's future performance.
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